Occam's Razor States That the Simplest Solution Is the Best

question 8

Multiple Choice

Occam's razor states that the simplest solution is the best, all things being equal. This speaks to a theory's:

• A)parsimony.
• B)falsifiability.
• C)theorizing.
• D)empiricism.

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Definitions:

Journal Entry

A record in accounting that represents a transaction where debit and credit balance totals are equal.

Cash/Short-Term Securities

Liquid assets that include currency on hand and demand deposits, as well as investments with maturities of three months or less at the time of acquisition.

Fair Values

The compensation received for relinquishing an asset or the expenditure to assign a liability in a neat transaction among market stakeholders at the time of determining value.

Purchase

The act of acquiring goods or services in exchange for money, representing a financial transaction between buyer and seller.