Correlation vs. Causation

Post Hoc Ergo Propter Hoc Fallacy
The Post Hoc Ergo Propter Hoc Fallacy, which translates to 'after this, therefore because of this,' is a logical misstep that incorrectly connects sequential events, assuming that if one event follows another, the first event must be the cause of the second. This type of fallacious reasoning can lead to incorrect conclusions, such as attributing a falling birth rate to a prior reduction in the population of storks.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.