Scientific Method

Alternative Hypothesis
In statistical testing, an alternative hypothesis is accepted if a sample contains sufficient evidence to reject the null hypothesis. It is usually denoted by H₁. In most cases, the alternative hypothesis is the expected conclusion, which is why the test was conducted in the first place.
Hypothesis
In empirical research, a hypothesis is an assertion made about some property of the elements being studied. It serves as a guiding assumption early in an investigation, directing the search for supporting data. At the conclusion of the study, the hypothesis is tested and determined to be true or false depending on whether the proposed property accurately characterizes the elements.
Inductive Reasoning
Inductive reasoning is a process where specific observations or experiences are used to make generalized conclusions. Commonly used in fields such as science, marketing, and business strategy, inductive reasoning involves deriving patterns or theories from specific instances.
Research
Research can refer to both the scientific method of systematically gathering, recording, and analyzing data, as well as the department within a company dedicated to conducting such investigations.

Accounting Terms Lexicon

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