WKClifford's Story of the Shipowner Was Intended to Make the Point

question 19

Multiple Choice

W.K.Clifford's story of the shipowner was intended to make the point that

• A) the best we can do is to act on our sincere convictions.
• B) it is better to take risks in the hope that we are right than to never venture out into the unknown.
• C) it is always wrong to believe anything on insufficient evidence.
• D) faith provides us with a basis for belief when reason fails us.

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Definitions:

Interest Portion

The amount of a payment that goes toward interest on a loan.

Principal Portion

The part of a payment that reduces the original amount of the loan, as distinguished from the interest portion.

Current Liabilities

Financial responsibilities that must be settled within a year or during the standard operational cycle.

Statement of Financial Position

Another term for the balance sheet, detailing a company's assets, liabilities, and shareholders' equity at a specific point in time.