The Primary Objective of Accounting Is to Help People Make

question 18

True/False

The primary objective of accounting is to help people make better decisions

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Definitions:

Appeals to Tradition

Arguments that justify a practice or belief based on its historical continuity or long-standing usage.

Egocentric Bias

Egocentric bias is the tendency for people to rely excessively on their own perspective and/or have a higher regard for their own attributes or abilities when analyzing situations or making decisions.

Illusory Correlation

A cognitive bias where a relationship between two variables is perceived despite no such association existing.

False Cause

Refers to a logical fallacy where it is assumed that because one event follows another, the first event caused the second.