Each of the Following Terms Is Related to the Scientific

question 62

Short Answer

Each of the following terms is related to the scientific process. Match each to its description.
-making a generalization from knowledge gained from specific cases

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Definitions:

Liability

A financial obligation or debt that a company owes to others, which must be settled over time through the transfer of assets or services.

Asset

An asset is a resource with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide future benefit.

Expense

Money spent or cost incurred in an entity's efforts to generate revenue, representing the cost of doing business.

Trial Balance

An accounting report that lists the balances of all general ledger accounts at a particular point in time to check the accuracy of bookkeeping entries.