The Idea That the Simplest Explanation Is the Best Explanation

question 82

Multiple Choice

The idea that the simplest explanation is the best explanation is known as ________.

• A) Occam's razor
• B) the compromise principle
• C) the reality principle
• D) a Platonic ideal

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Definitions:

Net Income

The profit of a company after all expenses, including taxes and operating costs, have been subtracted from total revenues.

Time Devoted

The amount of time that is spent on a particular activity or task.

Capital Account Balances

The amount of money and other forms of assets invested in a company by its owners or shareholders, reflected in the equity section of the balance sheet.

Partner Dies

This term refers to the event when a member of a partnership passes away, potentially affecting the operation and structure of the partnership depending on the partnership agreement and laws governing partnerships.