Which of the Following Statements About the Role of Standards

Multiple Choice

Which of the following statements about the role of standards in the control process is TRUE?

A) Industry averages are the best source of information for establishing standards.
B) Financial standards should always be set on the basis of past financial statements.
C) Standards are effective only if they state an expected level of performance for individual employees.
D) Standards can be established for revenue goals and sales targets as well as for employee attendance and safety records. 4/6/2016