Operational Definitions Are Most Closely Associated with Which Major Advantage

question 260

Multiple Choice

Operational definitions are most closely associated with which major advantage of the scientific approach?

• A) commonsense approach
• B) clarity and precision
• C) intolerance of error
• D) tolerance of error

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Definitions:

Allowance Method

An accounting technique used to estimate the amount of uncollectible accounts receivable and adjust for bad debts.

Uncollectible Accounts

Accounts receivable that a business is unable to collect, often written off as a bad debt expense.

Accounting Equation

A fundamental financial equation representing the relationship between assets, liabilities, and equity (Assets = Liabilities + Equity).

Allowance Method

A method of accounting for bad debts that involves estimating uncollectible accounts at the end of each period.