The Balanced Scorecard Approach to Evaluation and Control Assigns to Each

question 95

Multiple Choice

The balanced scorecard approach to evaluation and control assigns to each goal/objective in an area one or more measures that are each essential for achieving a desired strategic option.These measures are called

• A) critical success factors.
• B) strategic factors.
• C) key performance measures.
• D) behavioral measures.
• E) responsibility centers.

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Definitions:

Accounting Equation

The fundamental equation of accounting stating that Assets = Liabilities + Shareholder's Equity, underpinning the double-entry bookkeeping system.

Closing Entries

Journal entries made at the end of an accounting period to transfer temporary accounts' balances to permanent ones, thereby resetting the temporary accounts for the next period.

Permanent Accounts

The balance sheet accounts whose balances are carried over into future accounting periods, not closed at the end of the fiscal year.

Posting

The process of recording financial transactions to the appropriate accounts in the general ledger.