B)The scientific method can help develop accurate models even when data are unavailable.
C)The scientific method may not reveal a "true" model of the world.
D)The scientific method does not require the models to be tested with data.
Answer:
The answer is: C) The scientific method may not reveal a "true" model of the world.
Explanation:
When economists and scientists use the scientific method they are trying to develop models of the world and then test them with data. Past data is used to try to predict future economic behavior. That doesn´t mean that those models are 100% accurate and true, but rather that they might (or not) apply to specific situations.
Microeconomics relies on the use of the scientific method and econometrics, while the scientific method is not applicable in macroeconomics.
Among the options, the true statement is option C: The scientific method may not reveal a 'true' model of the world. The scientific method is meant to minimize bias and enhance result reliability, but that doesn't mean it always reveals the 'true' model of the world, as models can change with new data or perspectives.
Among the statements provided, option C) The scientific method may not reveal a "true" model of the world is true. The scientific method uses a systematic approach to answer questions and understand phenomenon. It's meant to reduce bias and increase the reliability of results, but that does not mean it always reveals an absolute or 'true' model of the world. Scientific models are inherently simplifications of the real world, and they can change as new data or perspectives come to light.
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b. Adjustment to record accrued salaries at the end of the year.
c. Providing services on account.
d. Investment of additional cash in the business by the owner.
e. Receipt of cash on account from a customer.
f. Receipt of cash for rent.
g. Receipt of cash from sale of office equipment.
h. Sale of used office equipment on account, at cost, to a neighboring business.
i. Closing of drawing account at the end of the year.
j. Providing services for cash.
To pick the correct journal from the list we should be sure that we will record some transactions in more than one journal.
Explanation:
The combinations are below:
A. Receipt of cash refund from over payment of taxes. (Cash Journal)
B. Adjustment to record accrued salaries at the end of the year (General journal)
C. Providing services on account (Revenue Journal)
D. Investment of additional cash in business by the owner (Cash, General Journal) (The transaction will be recorded in both cash and capital accounts but instead of the capital, we put it in the General Journal to be transferred later)
E. Receipt of cash on account from customer (Cash Journal)
F. Receipt of cash for rent ( Cash, General Journal) (The transaction will be recorded in both cash and rent account but for the journal we put the rent part in the General journal)
G. Receipt of cash from sale of office equipment (Cash, General Journal) (An office equipment is assumed to be a fixed asset, thus its sale will not go into the revenue journal but the General Journal whiles the cash receipt is treated in the Cash Receipts Journal)
H. Sale of used office equipment on account, at cost to a neighbor (General Journal)
I. Closing of drawing account at the end of the year (General Journal) (The question did not specify whether is was goods withdrawn or cash withdrawn so we assume it to be goods withdrawn)
J. Providing services for cash (Revenue, Cash Receipts Journal)
diagnose current and future issues, challenges and
opportunities. (AC 1.2) Evaluate a range of analysis tools and methods including how they can be applied to diagnose organisational issues, challenges and opportunities. (AC1.2) Short references should be added into your narrative below. Please remember to only list your long references in the reference box provided at the end of this section. Wordcount: Approximately 400 words. Type here...
One appropriate analysis tool that organisations can use to recognise and diagnose current and future issues, challenges, and opportunities is SWOT analysis.
SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. SWOT analysis can help organisations to identify their internal strengths and weaknesses and external opportunities and threats, which can guide them in making informed decisions about strategy, resource allocation, and risk management [1].
Another method that organizations can use to diagnose issues, challenges, and opportunities is environmental scanning. Environmental scanning involves monitoring and analysing the internal and external environments of an organisation to identify emerging trends, opportunities, and threats [2].
Environmental scanning can help organisations to stay informed about changes in their industry, technology, legal, political, economic, and social environments, which can affect their performance and competitiveness.
References:
Kotler, P., & Armstrong, G. (2018). Principles of marketing. Pearson.
Aguilar, F. J. (1967). Scanning the business environment. Macmillan.
Read more about analysis tools here:
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The answer is yes your welcome