The Balanced Scorecard

question 33

Multiple Choice

The balanced scorecard:

• A) has equal financial and non-financial measures.
• B) includes financial and non-financial measures.
• C) is the same as triple bottom line reporting.
• D) reports on corporate governance.

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Definitions:

Ending Inventory

The worth of merchandise ready for purchase at the close of a financial period, determined by adding purchases to the initial inventory and then subtracting the cost of goods that were sold.

First-In, First-Out Method

An inventory valuation method where the earliest items added to inventory are the first ones considered sold.

Equivalent Units

A measure used in process costing that converts partially completed goods into an equivalent number of fully completed units.

Production Consideration

Factors or aspects taken into account during the manufacturing process, including efficiency, cost, and quality.