What Is "Balanced" in the Balanced Scorecard Approach

question 110

Multiple Choice

What is "balanced" in the balanced scorecard approach?

• A) The number of products produced
• B) The emphasis on financial and non-financial performance measurements
• C) The amount of costs allocated to products
• D) The number of defects found on each product

Comprehend the functionality and benefits of using Gantt charts for project management.

Recognize the importance and variety of benchmarks in business performance evaluation.

Identify and differentiate between quality control and other performance measurement practices.

Understand the concept and process of dispatching in production control.

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Definitions:

Variance Measured

The process of determining the difference between expected and actual performance, costs, or revenues for the purpose of financial analysis and control.

Variable Overhead

Overhead costs that fluctuate with the level of production output, such as utilities for machinery or costs for raw materials.

Direct Labour Hour

A measure of the amount of time a worker spends on direct production activities.

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity levels within a business.