The ________ Approach to Performance Measurement Was Introduced as a Way

question 1

Multiple Choice

The ________ approach to performance measurement was introduced as a way to evaluate organizational performance from more than just the financial perspective.

• A)market value
• B)economic value
• C)balanced scorecard
• D)benchmarking

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Definitions:

Responsibility Accounting

This accounting methodology focuses on collecting, summarizing, and reporting financial information related to the responsibilities of individual managers.

Performance Report

A document that compares budgeted to actual financial results to gauge the performance of a department, project, or company.

Physical Basis

An accounting or evaluation method based on actual physical quantity or tangible assets measurement.

Joint Costs

Costs that are incurred to produce two or more products at the same time and cannot be easily attributed to a specific product.