Benchmarking Can Be Defined as the Practice Of

question 25

Multiple Choice

Benchmarking can be defined as the practice of:

• A) monitoring activities related to the design, creation, and delivery of a product, its marketing, and its support and after-sales service.
• B) developing products that are new to the world or have superior attributes to existing products in the market.
• C) measuring the time that it takes for a good to be delivered or a service to be performed.
• D) measuring how well a company is doing by comparing it to another company, or to itself, over time.
• E) analyzing the financial position of a company and creating the income statements and the balance sheets.

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Definitions:

Check Amount

The total sum of money written on a check that is payable to the recipient.

Book Balance

The balance in a company's accounting records for a particular account, which may differ from the actual cash balance until reconciled.

Purchasing Department

A division within a company responsible for acquiring goods and services needed for its operations.

Purchase Order

A document issued by a buyer to a seller, indicating the types, quantities, and agreed prices for products or services.