What Are the Important Steps Involved in Critical Thinking

question 75

Multiple Choice

What are the important steps involved in critical thinking?

• A) Be skeptical about everything you read or hear and be open to many viewpoints
• B) Look at the evidence and evaluate it as well as related information and a variety of opinions.
• C) Identify and evaluate your personal beliefs and biases.
• D) Identify and evaluate your personal beliefs and biases and be skeptical about everything you read or hear.
• E) Look at the evidence and evaluate it as well as related information, identify and evaluate your personal beliefs and biases, be skeptical about everything you read or hear and be open to many viewpoints.

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Definitions:

Financing Activities

Refers to the transactions and events that affect long-term liabilities and equity of a company, including issuing debt, selling shares, and paying dividends.

Direct Approach

A method of income statement preparation where expenses are listed directly against revenue items to show the net income.

Indirect Approach

A method often used in preparing cash flow statements where net income is adjusted for non-cash transactions and changes in working capital.

Investing Activities

Transactions involving the purchase and sale of long-term assets and investment securities, as part of a company’s cash flow activities.