The Scientific Method Is Useful

question 158

Multiple Choice

The scientific method is useful

• A)only in fields of science such as chemistry and physics
• B)for testing the validity of theoretical predictions
• C)for testing the validity of a model's assumptions
• D)when no economic variables can be assumed to be constant
• E)only if a theory has been proven to be true

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Definitions:

Annual Revenues

The total amount of money received by a company from its activities, such as sales of products or services, before any expenses are subtracted, within a fiscal year.

Expenses

The outflow of money to pay for goods, services, or assets, or the costs incurred in the operation of a business.

Dividends

Capital returned to shareholders by a company, often representing a share of the company's profits.

Ending Balance

The amount of money in an account at the end of a period after all transactions have been accounted for.