Sets of Statements Devised to Explain a Collection of Facts

question 10

Multiple Choice

Sets of statements devised to explain a collection of facts are called:

• A) data.
• B) theories.
• C) associations.
• D) symbols.

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Definitions:

Cash Amount

The total amount of money, in cash form, that is available or in consideration in a transaction.

Direct Method

A way of reporting cash flows from operating activities in the cash flow statement by listing major classes of gross cash receipts and payments.

Operating Activity

Activities that relate directly to the business’s primary operations, such as selling goods and providing services, not including investing or financing activities.