Benchmarking Is a Popular Tool to Measure Performance

question 13

Multiple Choice

Benchmarking is a popular tool to measure performance. Benchmarking involves the continual process of comparing organizational performance against:

• A) Industry standards
• B) High achieving organizations
• C) Rivals
• D) Organizations within the same industry

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Definitions:

Tutoring Services

Professional educational services provided to individuals or small groups to improve their understanding and performance in specific subjects or skills.

Contract

A legally binding agreement between two or more parties defining the terms and conditions of a particular arrangement or transaction.

Journalize

The process of documenting business activities in a journal within the scope of accounting practices.

Adjusting Entry

A journal entry made in accounting records at the end of an accounting period to allocate income and expenditure to the appropriate years.