Standards Can Be Either Theoretical ("Impossible Dream")or Practical (Attainable All

question 119

Essay

Standards can be either theoretical ("impossible dream")or practical (attainable all the time or only part of the time).Theoretically either can be used as the framework for the budgeting process.
Required:
a)What is the major distinction,if any,between a standard amount and a budgeted amount?
b)Which standard,theoretical or practical,provides the better benchmark for evaluating subsequent performance in a budgeting system? Explain.

---

Definitions:

Sapir-Whorf Thesis

The theory that the structure of a language influences its speakers' world view or cognition, and thus people's perceptions are relative to their spoken language.

Rites of Passage

Ceremonial events or processes that mark an individual's transition from one social status to another.

Rite of Passage

A ceremony or event marking an important stage in someone's life, particularly transitions such as puberty, marriage, or death.

Rights Revolution

A period of significant sociopolitical change, marked by the expansion and recognition of individual rights, including civil, political, and social rights.