Key Performance Indicators Can Focus on External and Internal Measurements

question 18

True/False

Key performance indicators can focus on external and internal measurements.

---

Definitions:

Job Cost Sheets

Documents used to record and track the expenses associated with a specific job or project, including materials, labor, and overhead costs.

Direct Materials

Raw materials that are directly used in the manufacturing of a product, easily traceable to the goods being produced.

Administrative Costs

Expenses related to the general operation of a business, such as salaries of executive personnel, office supplies, and utilities.

Cost Accounting Systems

Systems used by businesses to track, record, and analyze costs associated with their operations, with the aim of improving efficiency and profitability.