The Scientific Method Involves Gaining New Knowledge Through ______

question 38

Multiple Choice

The scientific method involves gaining new knowledge through ______.

• A) deduction
• B) intuition
• C) authority
• D) observation

---

Definitions:

Multiple Step Income Statement

An income statement that separates operational revenues and expenses from non-operational ones to calculate net income.

Adjusted Trial Balance

A list of all accounts and their balances after adjusting entries have been made, used to prepare financial statements.

Gross Profit

The difference between revenue and the cost of goods sold, indicating the efficiency of core operations before overhead costs.

Gross Profit Percentage

A financial metric that shows the portion of revenue that exceeds the cost of goods sold, expressed as a percentage.