A Theory Is

question 17

Multiple Choice

A theory is:

• A) A proposed explanation of a phenomenon which still has to be rigorously tested
• B) A scheme or system of ideas or statements or propositions which has undergone extensive testing and is generally accepted to be the accurate explanation behind an observation
• C) A provisionally accepted hypothesis proposed for further research
• D) None of the given options are correct.

---

Definitions:

Accumulated Depreciation

The total depreciation of an asset over its life up to a specific point in time, reflecting how much of its value has been used up.

Accounts Payable

Accounts payable represent a company's obligation to pay off a short-term debt to its creditors or suppliers.

Accounts Receivable

The funds that customers owe to a business for products or services already provided but not yet compensated for.

Inventory

A company's merchandise or goods ready for sale, representing one of the key assets that businesses manage and report on their financial statements.