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Uncertainty - Coggle Diagram
Uncertainty
Uncertainty simply means the lack of certainty or sureness of an event. In accounting, uncertainty refers to the inability to foretell consequences or outcomes because there is a lack of knowledge or bases on which to make any predictions.
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Rational decision
A rational decision is one made through careful, logical analysis and objective evaluation of available information, rather than relying on emotions or intuition.
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Probability theory
Probability theory is the mathematical framework that allows us to analyze chance events in a logically sound manner.
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Chaos Theory
A situation where the behaviors of a system appear random and unpredictable. Chaos arises because the system is exquisitely sensitive to even small changes in the conditions that define it.
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