Process vs procedure: what is the difference? This is a question that can keep professionals arguing for hours; And that is because, although many of us think that we know what a procedure or a process is, when we are asked to determine the difference, we find that our definition for both is relatively similar. Process Procedure
The term “natural person” refers to a living human being, with certain rights and responsibilities under the law. In contrast, a ” legal person “ or a “legal person” is a group of persons who are considered by law to act as one person. Both natural and legal persons have the right to sue other parties and sign contracts. They may also be on the receiving
Accountants use the words “assets , ” “liabilities,” and “equity” a lot . But what do these words really mean? And what do they have to do with companies? Below we will break down each term as simply as possible, and see how they relate to each other. Active passive Net worth Definition They are all tangible or intangible goods or objects susceptible of economic
For an ordinary person, accuracy and precision are synonymous, but for a person involved in measurement, these two convey different meanings. While accuracy is ‘the state of being correct’ , precision is ‘the state of being exact’ , people commonly misinterpret the two terms. Accuracy Precision Implying Accuracy refers to the level of agreement between the actual measurement and the absolute measurement.
An objective is a written statement that succinctly describes tangible actions to take that are based on a predefined motive or mission. Goals are used by individuals and organizations . In general, individuals set goals regarding their career and professional activities. Organizations and businesses set goals for various departments that align with the overall mission of the organization. Objectives are
Agreement and Contract are widely known terms around the world, but how many of us know the differences between these two terms. This article presents the differences and similarities between the Agreement and the Contract along with the comparison table for a better understanding. Agreement Contract Definition A covenant is a common agreement between two parties that was obtained
