The Balanced Scorecard Approach

question 10

Multiple Choice

The balanced scorecard approach

• A)Derives its name from the balance it attempts to achieve among a firm's executives,managers,and shareholders.
• B)Combines both decision management and decision control.
• C)Translates a plan of action that identifies objectives and performance drivers into a strategy to help the organization move in the right direction.
• D)Focuses on vague,open statements when setting objectives in order to allow managers flexibility to apply the objective to their individual business units.
• E)Evaluates performance using 8-10 different perspectives in order to effectively incorporate all areas of the organization.

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Definitions:

Audits

Systematic examinations and verifications of a company's financial and accounting records and operations.

Nonmaterial Way

A term often related to philosophical, spiritual or cultural practices that involves something intangible, not based on material or physical objects or needs.

Liability

The condition of having legal accountability, especially regarding debts or legal duties.

Contractually Agreed Upon Fee

A fee that parties have explicitly decided upon within a contract for services or goods.