Which of the Following Statements Is Correct Regarding Benchmarking

question 79

Multiple Choice

Which of the following statements is correct regarding benchmarking?

• A)Benchmarking is the practice of using a company's own data to identify the processes and practices in which it outperforms its competitors.
• B)Benchmarking involves selecting measures, setting targets for measures and adjusting the benchmark as strategies change.
• C)Benchmarking participants should adhere to the Benchmarking Code of Conduct which provides general principles to follow during the benchmarking process.
• D)Benchmarking is the development of a hypothetical scorecard.

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Definitions:

Per Unit

A term used to express the cost, price, or quantity concerning a single unit of a product or service.

Tax Burden

The measurement of taxes paid by an individual or business, expressed as a percentage of income or profit.

Sellers

Individuals or entities that offer goods or services in exchange for monetary compensation or other forms of payment.

Per Unit

Refers to expressing a variable or a measure on a per single item basis.