What Is the Name of the Principle That States That

question 8

Multiple Choice

What is the name of the principle that states that "where multiple theories can explain observed results,the best theory to adopt is the simplest one"?

• A) Natural selection
• B) Regression
• C) Falsifiability
• D) Parsimony

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Definitions:

Customizing Department

A unit within an organization that adapts products to fit the unique needs or likes of its customers.

Predetermined Overhead Rate

A rate calculated before the accounting period begins, used to allocate manufacturing overhead costs to individual units of product based on a certain activity, like labor hours.

Direct Labor-Hours

A measure of the time employees who work directly in the production of goods spend on a specific job or product, used to allocate labor costs in job costing.

Machine-Hours

A measure of the amount of time machines are used in the production process, often used to allocate manufacturing overhead costs.