Describe Each of the Three Types of Cognitive Failure (Human

question 35

Essay

Describe each of the three types of cognitive failure (human factor) and relate each to relevant incident types listed in the chapter. Provide examples to support your answer.

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Definitions:

Notes Receivable

Written promise (as evidenced by a formal instrument) for amounts to be received.

Retained Earnings

Net income that the corporation retains for future use.

Operating Expenses

Expenses incurred through the normal operations of a business, including rent, utilities, and salaries, but excluding costs of goods sold.

Vertical Analysis

A financial analysis method that lists each line item in a single period financial statement as a percentage of a base line figure.