Which of the Following Is (Are) a Comprehensive Management Control

question 21

Multiple Choice

Which of the following is (are) a comprehensive management control system that balances traditional financial measures with operational measures relating to a company's critical success factors?

• A) benchmarking
• B) balanced scorecards
• C) management control systems
• D) Six Sigma

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Definitions:

Total-Cost Curve

A graphical representation showing the total cost of producing varying quantities of output.

Economic Profit

The surplus gained from undertaking an activity after accounting for both explicit and implicit costs, differing from accounting profit.

Accounting Profit

The financial gain calculated by subtracting total explicit costs from total revenue, reflecting the company's bookkeeping earnings.

Explicit Costs

Payments made directly to individuals or entities in the operation of a business, including salaries, rental fees, and costs of materials.