What are assumptions called

Memorize this quote and bring it to mind when you are convinced.They are commonly documented in business plans and business cases as a disclosure of uncertainty and risk.business occurs in an uncertain environment and assumptions always need to be made to move forward with a strategy.Set of facts or assumptions called premises to support conclusion.In the business world, assumptions are used in a wide variety of situations to enable companies to plan and make decisions in the face of uncertainty.Here we discuss the list of accounting assumptions and importance along with benefits.

Frequently this is a humbling experience.Business assumptions are things that you assume to be true for the purposes of developing a strategy, making decisions and planning.A taking to or upon oneself;Pessimistic assumptions can lead to negative behaviors such as defeatism.If you are always assuming you know how others think and feel, you stop listening and communicating and leave them feeling trapped or misunderstood.

The difference between a fact and an assumption may not be obvious.It seems the right thing to do given the percentage of time we make faulty assumptions about people, events and things.It is also commonly used to resist change in an attempt to preserve the status quo.Assumption definition, something taken for granted;The process of documenting assumptions.

A critical thinker, however, is attentive to these assumptions because they are sometimes incorrect or misguided.It's called the law of assumption.It is an argument in which the conclusion is not well supported by the premises.