In the Natural World,there Often Are Many Different Factors Associated

question 108

Multiple Choice

In the natural world,there often are many different factors associated with the occurrence of a particular outcome.Therefore it is important that we,as critical thinkers,__________ whenever possible.

• A)create unfalsifiable theories
• B)propose complex statements of causation
• C)rule out competing explanations
• D)remember that correlation equals causation

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Definitions:

Post-Closing Trial Balance

Prepared as an additional step in the accounting cycle to check that debits equal credits and all temporary accounts have been closed (have zero balances).

Insurance Policy

A contract between an insurer and a policyholder that specifies the terms and conditions under which the insurer will compensate the policyholder for loss.

Adjusting Entries

At the close of an accounting period, journal entries are made to apportion income and spending to the timeframe in which they legitimately took place.

Prepaid Insurance

Payments made in advance for insurance coverage, recorded as an asset on the balance sheet until the coverage period elapses.