Corrective action is a control principle that states that managers should be informed of a situation only if data show a significant deviation from standards. True False Question 13 (Mandatory) (1 point) A balance sheet summarizes an organization's overall financial worth, or its assets and liabilities, at a specific point in time. True False Question 14 (Mandatory) (1 point) Twice daily, factory workers at Fabulous Skeins and Yarn select random samples from the production runs and test them for quality, rejecting runs if too many samples fall outside a standard range of acceptability. These workers are engaged in statistical process control. True False D