The American Heritage® Dictionary of the English Language: Fourth Edition. 2000.
theory
1. A set of statements or principles devised to explain a group of facts or phenomena, especially one that has been repeatedly tested or is widely accepted and can be used to make predictions about natural phenomena.
2. The branch of a science or art consisting of its explanatory statements, accepted principles, and methods of analysis, as opposed to practice:
Widly accepted, you mean like the geocentric theory. :)