Which of the Following Is Not a Correct Statement Relating

question 89

Multiple Choice

Which of the following is not a correct statement relating to the balanced scorecard?

• A)It was developed in the early 1990s by David Norton and Robert Kaplan.
• B)It is a collection of performance measures that track an organization's progress toward achieving its goals.
• C)The selection of performance measures used is driven by the organization's network of facilities used to produce and deliver its product.
• D)It uses both financial and non-financial performance measures.

Record the actual and applied factory overhead costs in manufacturing.

Understand the distinctions between different types of costs and their classifications (direct material, direct labor, factory overhead).

Comprehend the function and importance of materials and finished goods ledgers in tracking inventory.

Understand the calculation and application of factory overhead costs, including overapplied and underapplied overhead.

---

Definitions:

Sole Proprietor

An individual who owns and operates a business alone, without forming a corporation or a partnership.

Automatically

Occurring or operating without explicit intervention, as in processes designed to happen without human initiation.

Business Profits

Business Profits represent the excess of revenues over the expenses of running a business, indicating the financial success and viability of the business operations.

Personal Income

The total amount of money earned by an individual from all sources before taxes and other deductions.