Benchmarking

question 77

Multiple Choice

Benchmarking:

• A)is a cost-benefit tool for justifying investment.
• B)is a process improvement technique for assigning workers to the correct workstations.
• C)is a form of process variance reduction.
• D)uses information from industry leaders to set stretch goals.

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Definitions:

Ledger

A comprehensive collection of a company's financial transactions, organized by account.

Alphabetical Order

A method of sorting by arranging items according to the sequence of letters in the alphabet.

Credits

In accounting, credits are entries that decrease assets or increase liabilities and equity on a company's balance sheet, corresponding to the double-entry bookkeeping system.

Debits

Entries made on the left-hand side of an account record in double-entry bookkeeping, indicating increases in assets or expense accounts, or decreases in liabilities, equity, or revenue accounts.