In Order for Standards to Be Useful in the Controlling

question 150

Multiple Choice

In order for standards to be useful in the controlling process, they must have certain characteristics. One of these characteristics is that they must be

• A) nonspecific.
• B) redundant.
• C) included in the mission statement.
• D) attainable.

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Definitions:

Net Asset Value

The total value of a fund's assets minus its liabilities, often used in the context of mutual funds to represent the per-share/unit value of the fund.

Assessment Value

The dollar value assigned to a property for purposes of measuring applicable taxes or insurance premiums.

Investment Company

A business structure, such as a corporation or trust, dedicated to managing the combined investments of various investors in financial markets.

Front-end Loads

Charges or fees that are paid by investors at the time of purchasing shares of a mutual fund or an investment trust.