Managers Should Do Nothing If the Variance Observed from the Standard

question 36

True/False

Managers should do nothing if the variance observed from the standard is acceptable.

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Definitions:

Subjective Standard

A standard for decision-making that is based on personal feelings, tastes, or opinions, varying from person to person.

Objective Standard

A legal benchmark that uses a reasonable person's perspective to evaluate an individual's actions or decisions in a given situation.

Condition Subsequent

A condition in a contract that, upon occurrence, terminates the contract or an obligation within the contract.

Real Estate Contracts

Legally binding agreements related to the purchase, sale, lease, or exchange of real property.