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Which control principles suggests that managers should be informed about a problem only when the data shows a significant deviation from established standards?
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What is it to be a person of integrity?
A person concerned with principles of right and wrong or conforming to high standards of behaviour.
Application of standard deviation in business?
Standard deviation helps business understand the research they have done on their potential customers. If the information deviates by one, then they know that they can rely on the information more so than research that deviates to standards deviations away from the mean.
How standard deviation formula can be used in in cement industry?
Usually, industrial use of standard deviation is involved in quality control and testing. A product such as cement, is produced in batches, and I assume, requires periodic testing to ensure consistent properties. The sample test variations can be evaluated using standard deviation. If the standard deviation is high, it is likely that inferior product could be shipped. Probability analysis can determine the chance that product below certain standards would be shipped.
What is the definition of the word deviate?
The word deviate means to leave, depart or diverge from an established course. It can also mean to depart from the normal, accepted standards or to stray.
Is a value two standards deviation from the mean more likely to occur than a value three standard deviations from the mean?
yes the farther away from the mean, the less likely it is......the numbers on the very ends are outliers, meaning that it happened by chance. the numbers closer to the mean are the ones that happen the most.
What is a synonym of 'principles'?
standards
Deviation from explosive safety standards must only result?
out of operational necessity
Does the coach set the standard for a baseball team or does the umpire or even the player?
The standards for the game are established by the rules and enforced by the umpires, the standards for the team are established by the Manager, but the standards for the players are established by the players themselves.
Requires that accounting standards be followed for all significant items?
Requires that accounting standards be followed for all items of significant size
When was GAAP established?
In 1992, the Auditing Standards Board established the GAAP hierarchy.
What is the difference between authority and legitimacy?
authority: the power to determine, adjudicate, or otherwise settle issues or disputes; jurisdiction; the right to control, command, or determine. legitimacy: in accordance with established rules, principles, or standards.
Principles and standards you use to decide how to act are called?
ethics
The standards of good moral conduct or principles are known as what?
Ethics
What does Steadfast adherence to a strict moral mean?
Steadfast adherence to a strict moral code refers to consistently following a set of ethical principles or standards without deviation. It involves unwavering commitment to doing what is considered right or just, even in the face of challenges or temptations.
When was FASAB established?
The Federal Accounting Standards Advisory Board (FASAB) was established in 1990.
Who formulated the General accepted accounting principles?
Financial Accounting Standards Board
What were the historical antecedents to the Financial Accounting Standards Board?
The first two standard-setting organizations in the United States were the Committee on Accounting Procedure (CAP), which was established in 1938, and the Accounting Principles Board (APB), which replaced the CAP in 1959
