The Principle of Ockham's Razor Says That We Should

question 22

Multiple Choice

The principle of Ockham's razor says that we should

• A) eliminate unnecessary entities in our theories.
• B) shave off all beliefs that will not lead to the improvement of our soul.
• C) make our definitions as sharp and precise as possible.
• D) divide mental events and physical events into two separate categories.

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Definitions:

Unpaid Vouchers

Refers to vouchers, which represent obligations or promises to pay, that have not yet been settled or paid.

Gross Method

An accounting method for recording purchases of inventory at their full invoice prices without deducting any cash discounts offered.

Periodic Inventory Method

A system of inventory management and cost determination that updates the ending inventory balance and the cost of goods sold only at the end of an accounting period.

Purchases

Transactions involving the acquisition of goods or services for personal use, resale, or business operations.