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In Order to Be Effective, Performance Standards Must Be Specific

question 199

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In order to be effective, performance standards must be specific, attainable, and measurable.

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Definitions:

Goodwill

An intangible asset that arises when a business is acquired for more than the fair value of its tangible and identifiable intangible assets.

Book Values

The value of an asset as it appears on a company's balance sheet, calculated as the cost of the asset minus any depreciation or amortization.

Fair Values

An estimate of the market value of an asset or liability, based on current prices in an active market.

Acquired Entity

A company that has been purchased or taken over by another entity.

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