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James is in the business of debt collection. He purchased a $20,000 account receivable from Green Corporation for $15,000. During the year, James collected $17,000 in final settlement of the account. James can take a $2,000 bad debt deduction in the current year.
Data Analysis
The process of inspecting, cleansing, transforming, and modeling data with the goal of discovering useful information and supporting decision-making.
Scientific Method
A systematic approach to research that involves observation, hypothesis formation, experimentation, and the drawing of conclusions.
Observations
The act of noticing and recording something, typically in the context of scientific research or data collection.
Independent Variable
The variable in an experiment that is manipulated or changed to observe its effect on a dependent variable.
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