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You Want to Make Sure That You Will Get to Work

question 492

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You want to make sure that you will get to work on time. You call a co-worker who is always punctual and ask her to meet you for coffee before work the next morning, because you know you'll be more likely to be on time if someone is waiting to meet you. You are using a strategy called:


Definitions:

Standard

A level of quality or achievement, especially one that is used as a point of reference.

Budget

An estimation of revenue and expenses over a specified future period of time, used by organizations for planning and controlling their financial resources.

Standard Cost

A predetermined cost of manufacturing, selling, or administering each product or service, used as a benchmark to measure performance.

Financial Statements

Reports that provide an overview of a company's financial condition in both short and long term, including balance sheet, income statement, and cash flow statement.

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