Ben,the Production Manager of Pace Shoes,sets a Production Target of 220

question 81

Multiple Choice

Ben,the production manager of Pace Shoes,sets a production target of 220 shoes to be distributed among 20 employees in a week.In the context of the control process,Ben is:

• A) establishing the standards of performance.
• B) measuring the actual level of performance of employees.
• C) comparing the actual performance against chosen standards of performance.
• D) evaluating the result of the set standards.
• E) initiating corrective actions.

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Definitions:

Principle Amount

The principal amount is the initial size of a loan or an investment, not including profits or interest.

Loan Payment

A payment made by a borrower to a lender that may include both the principal and interest.

Effective Annual Rate

The interest rate on a loan or financial product restated from the nominal rate as an annual rate, including any compounding that occurs during the year.

APR

Annual Percentage Rate, a measure that reflects the annualized cost of borrowing including interest and other fees, making it easier to compare different financial products.