The Steps Involved in Building a Balanced Scorecard Are

question 70

Multiple Choice

The steps involved in building a balanced scorecard are

• A)selecting measures, setting targets for measures, and adjusting the scorecard as strategies change.
• B)selecting measures, setting targets for measures, and changing objectives that do not meet scorecard measures.
• C)setting targets for measures, adjusting objectives to meet the scorecard, and eliminating processes that do not meet objectives.
• D)selecting measures, focusing on financial measures, and changing objectives that do not meet scorecard measures.

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Definitions:

Vice President

An executive or senior officer in a business or organization, typically reporting to the president or CEO, with specific responsibilities that vary by the entity.

Finance

The management of large sums of money, especially by governments or large companies, encompassing activities such as lending, investing, and budgeting.

Administrative Expense

Costs related to the general operation of a company, which may include salaries of executive staff, office supplies, and utility expenses not directly tied to production.

Period Cost

Costs that are expensed in the period in which they are incurred and are not directly tied to production activity, such as selling, administrative, and general expenses.