Performance Reports Are Useful Only to the Extent That Performance

question 45

Multiple Choice

Performance reports are useful only to the extent that performance is measured against

• A)a meaningful benchmark.
• B)the performance of all other units or managers.
• C)the budget as adopted for the period.
• D)competitors' achievements.

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Definitions:

Breach

The violation or non-fulfillment of a legal obligation, contract, or duty, which may give the aggrieved party the right to legal remedies.

Restitution

A legal principle requiring a party who has unjustly gained at another's expense to compensate the victim.

Statute of Frauds

A legal principle that requires certain types of contracts to be in writing and signed by all parties involved to be enforceable.

Punitive Damages

Financial compensation awarded in lawsuits as a punishment to the defendant, over and above actual damages.