One of the Traps to Avoid on the Way to Becoming

question 18

Multiple Choice

One of the traps to avoid on the way to becoming a customer-focused business is

• A) the use of revised financial metrics.
• B) organizational realignment.
• C) a support system and process.
• D) senior management commitment.
• E) maintaining functional alignment.

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Definitions:

Revenue

The income earned by a company from its business activities, typically from the sale of goods or services.

Net Income

The ultimate profit of a company calculated by removing all operational costs, taxes, and expenses from its gross income.

Financial Accounting Standards

Rules and guidelines developed by authoritative entities to govern how financial statements should be prepared and presented.

IASB

The International Accounting Standards Board, an independent body that develops and approves International Financial Reporting Standards (IFRS).