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Widely Held Perception of Accounting - ANSWER "Bean counting." Public perception is narrow. They perceive accting as a mechanical, black-or-white, right-or-wrong process. In reality, accting plays a critical role is supporting a prosperous society. This is represented by the pathways vision model. Says that economic activity goes into gray areas that lead to accting judgments (critical thinking) to provide useful info that leads to good decisions and a prosperous society. Good decisions have consequences for accting judgments and economic activity. Arrows can be reversed to show that preparers provide info to users
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