The Use of Facts and Objective Reasoning to Most Effectively

question 8

Multiple Choice

The use of facts and objective reasoning to most effectively reach a decision or understand a problem is known as ________________.

• A)qualitative analysis
• B)discretion
• C)ethical balance
• D)critical thinking

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Definitions:

Internally Generated

Assets or resources that are created within an organization, without acquiring them from external sources.

Gain On Sale

The profit received from selling a capital asset for more than its purchase price.

Plant Asset

A long-term asset used in the production of goods or services, not expected to be consumed or converted into cash within a year.

Book Value

The worth of an asset as reported in the balance sheet, determined by subtracting any depreciation from the asset's initial cost.