_____ Is Thinking That Applies a General Set of Rules

question 209

Multiple Choice

_____ is thinking that applies a general set of rules to specific situations; for example, using the laws of gravity to predict the behavior of a single falling object.

• A)Deductive thought
• B)Inductive thought
• C)Intuitive thought
• D)Creative thought

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Definitions:

Sales

The exchange of a commodity or service for money; the action of selling something.

Variable Costing

A costing method that includes only variable manufacturing costs (direct materials, direct labor, and variable manufacturing overhead) in product costs and treats fixed manufacturing overhead as a period expense.

Generally Accepted Accounting Principles

A set of accounting standards, guidelines, and procedures used in the preparation of financial statements to ensure consistency and transparency.

Stockholders

Individuals or entities that own shares in a corporation, giving them various rights like voting on company matters and receiving dividends.