An Article on Public Libraries Contained the Following Statement: "The

question 35

Multiple Choice

An article on public libraries contained the following statement: "The Balanced Scorecard helps organize and run the library according to a specific strategic plan, while demonstrating the library's value to the community as a whole." When dealing with the ____ area of the Balanced Scorecard, the article advised librarians to ask, "How can the library continue to improve and create value?"

• A) financial perspective
• B) policies and procedures perspective
• C) customer perspective
• D) internal business perspective
• E) innovation and learning perspective

---

Definitions:

Weighted-Average Method

An inventory costing method that calculates the cost of goods sold and ending inventory value based on the average cost of all units available for sale during the period.

Materials Cost

The cost of the raw materials used in the production of goods.

Weighted-Average Method

An inventory costing method where costs of goods sold and ending inventory consist of a weighted average of all purchases and manufactured goods during the period.

Cost Reconciliation Report

A financial report that explains the differences or reconciles the variations between the cost of beginning inventory plus purchases and the cost of goods sold.