Kurt Lewin Is Quoted as Saying,"There Is Nothing So Practical

question 4

Multiple Choice

Kurt Lewin is quoted as saying,"There is nothing so practical as a good theory." This quote is best interpreted as meaning that

• A) hypothesis testing is limited to the quality of the underlying theories.
• B) to solve difficult social problems, one first needs to understand the underlying reasons why they occur.
• C) basic research is more important than application of the research.
• D) social psychologists should focus on solving world problems.
• E) applied research is more important than basic research.

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Finance Lease Agreement

A lease in which the lessee has control over the asset being leased and substantially all risks and rewards incidental to ownership, even though legal title may not be transferred.

Residual Value

The estimated amount that an entity would currently obtain from disposal of the asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Implicit Interest Rate

An interest rate inferred from the cost of borrowing, or the return on investment, that is not explicitly stated.