Do All Generalizations Have Exceptions

question 57

Multiple Choice

Do all generalizations have exceptions?

• A)Yes, because nothing is true for everyone.
• B)Yes, because no proposition is true of every instance.
• C)No, since, for example, some mathematical principles have no exceptions.
• D)No, since every generalization is true of every instance.
• E)We can't be sure, since there is a lot that we don't know about the world.

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Definitions:

Equity Method

An accounting technique used by firms to assess the profits earned by their investments in other companies.

Unrealized Gains and Losses

Increases or decreases in the value of investments that have not been sold, thus not yet resulting in actual profit or loss.

IFRS 11

An International Financial Reporting Standard that deals with accounting for interests in joint arrangements, requiring parties to recognize their rights and obligations.

Non-Monetary Assets

Assets that are not in the form of cash or cannot be easily converted to cash, such as property, plant, and equipment.