Developing Generalizations from a Limited Number of Related Observations or Experiences

question 37

Multiple Choice

Developing generalizations from a limited number of related observations or experiences is referred to as

• A) deductive reasoning.
• B) inductive reasoning.
• C) scientific method.
• D) reliance on tradition.

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Definitions:

Machine-Hours

A measure of production or work time, referring to the total hours a machine is operated in the performance of its tasks.

Overhead Cost

Indirect costs related to the general operation of a business and not directly tied to a specific product or service.

Activity-Based Costing

A costing method that assigns overhead and indirect costs to specific activities, providing a more accurate reflection of the resources consumed to produce a product or service.

Activity Rate

The cost driver rate used in activity-based costing to allocate costs to products or services based on specific activities.