Which of the Following Statements Correctly Differentiates Between a Model

question 65

Multiple Choice

Which of the following statements correctly differentiates between a model and a hypothesis?

• A) Testing a hypothesis does not require data, whereas testing a model requires data.
• B) Testing a model requires data, whereas testing a hypothesis does not require data.
• C) A hypothesis can be used to make predictions for the future, whereas a model can only explain the past.
• D) A model is a simplified representation of reality, whereas hypotheses are a model's predictions.

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Definitions:

Liability Likelihood

Refers to the probability that a company will be responsible for payment due to a debt, claim, or lawsuit.

Interest Calculations

The process of determining the amount of interest owed or earned over a specific period of time, based on the principal amount and the rate of interest.

Journalize

The act of recording a transaction in an accounting journal in the form of a journal entry, following the double-entry system.

Interest Calculations

The process of determining the interest payment on a loan or financial product based on the principal, rate, and period.