A theory can be defined as a statement which is formal in nature which speaks about the rule which govern the subject which is being studied. It also can be referred to as the ideas which are put forward to explain a particular fact or facts or events. Theories are also developed to state an opinion or an explanation. Theories are generally assumptions or certain propositions. In many cases it can be accepted facts which try to develop some explanation which is rational in nature. The word theory has come from the Greek word, “thoros”, which says that theories are basically some models which are made in the mind by individuals perceived reality (Akers,2017).