What Are the Two Types of Reports Generated by Accounting

question 67

Essay

What are the two types of reports generated by accounting systems?

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Definitions:

Availability Heuristic

A mental shortcut that relies on immediate examples that come to a person's mind when evaluating a specific topic, concept, method or decision.

Availability Heuristic

A cognitive shortcut based on quick examples that pop into one's mind while assessing a particular subject, idea, strategy, or choice.

Acquittal

A legal judgment that a person is not guilty of the crime with which they have been charged.

Representativeness Heuristic

A cognitive shortcut that involves making judgments about the probability of an event under uncertainty, based on how much it resembles available prototypes.