Once Managers Have Measured Actual Performance, They Should

question 69

Multiple Choice

Once managers have measured actual performance, they should

• A)revise accepted standards.
• B)compare actual performance to the standards.
• C)establish the standards of performance.
• D)initiate corrective action.
• E)develop goals and objectives.

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Definitions:

Interest Rates

The percentage of a loan that is charged to the borrower as interest, usually presented as an annual rate of the remaining loan balance.

Excess Reserves

Banks' reserves that are greater than the minimum regulatory requirement, not needed to fulfill lending demands.

Reserve Requirement

The reserve requirement is a central bank regulation that sets the minimum amount of reserves that must be held by a commercial bank.

Lend Out

The act of providing money or resources to another party with the expectation that the money or resources will be returned, often with interest.