All of the Following Are True About the Influential Philosophy

question 38

Multiple Choice

All of the following are true about the influential philosophy of positivism except:

• A) it stressed the importance of verifiable facts rather than theoretical or metaphysical ideas.
• B) it called for the development of useful scientific laws of social progress.
• C) it contributed to the growth of archaic theology as a branch of learning.
• D) it originated with the French philosopher Auguste Comte.

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Definitions:

Adjusting Entry

A journal entry made at the end of an accounting period to allocate income and expenses to the period in which they actually occurred.

Unadjusted Trial Balance

A list of all the accounts and their balances from the general ledger before any adjusting entries are made.

Gross Profit

The difference between sales and the cost of goods sold.

Periodic Inventory Method

An accounting approach where inventory is physically counted at specific intervals to determine the cost of goods sold and ending inventory levels.