Managers could choose to do nothing when ________.
A. an employee fails to attain the standard because of internal problems
B. the difference between actual performance and standard performance is low and acceptable
C. performance standards are acceptable, though the employees have not attained it
D. the variance observed from the expected performance is caused due to unrealistic standards
Answer: B
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For a compensatory share option plan, any compensation cost related to the plan must be recognized over the service period. The underlying financial accounting concept that supports this approach is
A) revenue recognition. B) matching. C) conservatism. D) historical cost.
Retailers record all credit card sales as charge sales
Indicate whether the statement is true or false
Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business are $260,000, $350,000, and $400,000, respectively, for September, October, and November. The company expects to sell 30% of its merchandise for cash. Of sales on account, 80% are expected to be collected in the month of the sale, 20% in the month following the sale,
and the remainder in the following month. The cash collections in November from accounts receivable are: A) $294,000 B) $336,000 C) $295,200 D) $273,000
Managerial accounting
A) is prepared according to GAAP. B) is prepared according to management needs. C) is prepared periodically only. D) is related to the entire business entity only.