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Briefly Discuss the Difference Between Efficiency and Effectiveness

question 35

Essay

Briefly discuss the difference between efficiency and effectiveness.


Definitions:

Income Statement

A financial document that shows a company's revenues, expenses, and net income over a specific period.

Balance Sheet

A financial statement that shows a company's assets, liabilities, and shareholders' equity at a specific point in time.

Dividends

Payments made by a corporation to its shareholder members, distributing profits.

Revised Model Business Corporation Act

An influential model law that suggests legal standards and practices for the formation, operation, and dissolution of corporations in the United States.

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