Balanced Scorecard Is Methodology for Assessing an Organization's Business Performance

question 81

True/False

Balanced scorecard is methodology for assessing an organization's business performance via four components: (1) financial, (2) internal business process, (3) customers, and (4) innovation and improvement activities.

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Definitions:

Financial Statements

Reports that summarize the financial activities and condition of a business, including the balance sheet, income statement, and cash flow statement.

Managerial Accounting

A branch of accounting focused on providing financial information within a company to assist in decision-making, planning, and control.

Decision Makers

Individuals or entities that have the authority to make choices or form policies within organizations, significantly impacting its direction and operations.

Days' Sales

A financial metric that estimates the average time it takes for a company to turn its inventory into sales.