ACCEPTANCE SAMPLING Definition

ACCEPTANCE SAMPLING is statistical sampling to determine whether internal control compliance is greater than or less than the tolerable deviation rate.

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INTEREST EXPENSE is the cost of borrowing funds in the current period. It is shown as a financial expense item within the income statement. An interest expense of zero to <15% relative to operating income, within the consumer products industry, is an indicator of a sustainable competitive advantage.

ORGANIZATIONAL STRUCTURE is the delineation of responsibilities, authorities and relations organized in such a way as to enable an organization to perform its functions.

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