Asked by Janninah Miller on Jul 26, 2024
Verified
A limitation of the use of inductive reasoning in the development of an accounting theory is that it:
A) does not question the appropriateness of the observed actions.
B) attempts to improve a particular process.
C) is based on identifying a set of objectives.
D) is only useful for developing normative theories.
Inductive Reasoning
A logical process in which multiple premises, all believed true or found true most of the time, are combined to obtain a specific conclusion.
Accounting Theory
A framework of principles that underlie the practice and methodology of accounting in financial reporting.
Normative Theories
Theories that prescribe how things should be or how decisions should be made, often applied in ethics, economics, and law.
- Gain insight into the basic principles of accounting theories, with a focus on normative and positive theories and how they have developed over time.
- Determine the forms of reasoning utilized in the development of theories, including inductive and deductive reasoning.
Verified Answer
Learning Objectives
- Gain insight into the basic principles of accounting theories, with a focus on normative and positive theories and how they have developed over time.
- Determine the forms of reasoning utilized in the development of theories, including inductive and deductive reasoning.
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