The Process of Measuring a Company's Performance Against Best-In-Class Companies

question 63

Multiple Choice

The process of measuring a company's performance against best-in-class companies and using that information as a basis to define the company's targets,strategies,and implementation is known as _____.

• A)total quality management
• B)process mapping
• C)benchmarking
• D)reengineering

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Definitions:

Loans

Borrowed money that must be repaid, typically with interest, according to agreed terms and conditions.

Percentage

A proportion or share in relation to a whole, represented as a number out of 100.

Receivables Basis

An accounting method that recognizes revenue when related receivables are actually or constructively received.

Allowance Account

A contra account related to accounts receivable that represents the estimate of receivables that are likely to be uncollectible.