Briefly Describe the Five Basic Control Techniques: Randomization, Elimination, Constancy

question 91

Short Answer

Briefly describe the five basic control techniques: randomization, elimination, constancy, balancing, and counterbalancing.

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Definitions:

Annuity A

Represents a financial product that promises to pay the holder a fixed stream of payments over a specified period of time.

APR

Annual Percentage Rate, a measure used to calculate the cost of borrowing, including interest and other fees, shown as a yearly rate.

EAR

Ear is the acronym for Effective Annual Rate, which measures the real return on an investment or the real interest rate on a loan, accounting for compounding over a specified period.

Monthly Stream

A monthly stream often refers to consistent or recurring flows of income, payments, or data that occur every month.