Using Observations of a Small Number of Humans to Make

question 28

Multiple Choice

Using observations of a small number of humans to make a statement about human behavior in general is an example of ____ reasoning.

• A) inductive
• B) deductive
• C) practical
• D) predictive

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Definitions:

Open Account

a method of credit where the seller ships goods or provides services to a buyer under an agreement to bill them later or on a recurring basis.

Assets

Resources owned by a business, expected to bring future economic benefits.

Liabilities

Debts or financial responsibilities that a business has to other entities, requiring repayment over a period through the exchange of economic resources such as cash, products, or services.

Owner's Equity

The residual interest in the assets of the entity after deducting liabilities, essentially representing the owner's claim against the company's assets.