a) standard performance. Answer: D Recommended textbook solutionsPrinciples of Economics8th EditionN. Gregory Mankiw 1,333 solutions Krugman's Economics for AP2nd EditionDavid Anderson, Margaret Ray 1,042 solutions Krugman's Economics for AP2nd EditionDavid Anderson, Margaret Ray 1,000 solutions Principles of Microeconomics1st EditionOpenStax, Steven Greenlaw, Timothy Taylor 713 solutions What is an expected level of performance against which actual performance can be compared?Performance standard is an expected level of performance against which actual performance can be compared.
What is comparing actual performance against standards?The process of comparing actual to planned performance and taking corrective action is called controlling.
Why actual performance is compared with standards?Actual performance is compared with standards in the process of controlling to take corrective actions if significant deviation occurs.
What is standard and actual performance?The standards should be attainable, measurable, and clear. Measuring actual performance: If performance is not measured, it cannot be ascertained whether standards have been met. Comparing actual performance with standards or goals: Accept or reject the product or outcome.
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