The SCS/NRCS developed a number of synthetic rainfall distributions, such as the Type I, IA, II, III, etc. The distributions usually have an overall duration of 24-hours, but have the benefit of including intensity information for all events up to 24-hours, all in a single curve. So the 24-hour distribution INCLUDES the 1-hour, 2-hour, 12-hour, etc. rainfalls, all in a single table.
Roughly speaking, a 24-hour rainfall is suitable for any watershed that will fully "respond" within a 24-hour time period. This typically means that the overall time-of-concentration and travel times are somewhat less then 24-hours. A longer rainfall distribution (such as 48-hours) is required only for larger watersheds (but larger areas may require a different runoff methodology anyway.)
Although many sites could use a shorter version of the SCS/NRCS rainfalls (such as 12-hours) this complicates the analysis without any real benefit. Of course, there are exceptions, such as a shorter duration "water quality" event, but these are normally used in addition to a traditional 24-hour study, which is necessary for volume-sensitive calculations, such as detention ponds.
Finally, by standardizing on a 24-hour duration we are able to use a consistent measure of rainfall depth for any situation.
For more background on the SCS/NRCS method, and the effect of different rainfalls, see the "Hydrology" section of the hydrology training slides at