The Balanced Scorecard

question 51

Multiple Choice

The balanced scorecard:

• A)Is not comprehensive,since it doesn't include all the CSFs which contribute to competitive success.
• B)Helps focus managers' attention to bottom line profits.
• C)Is forward looking,stressing nonfinancial measures that can lead to benefits in the future.
• D)Fails to reflect environmental and social effects of the firm's operations.
• E)Is heavily weighted toward the financial critical success factors (CSFs).

Recognize the role of historical scientific experiments in shaping our understanding of microbiology and genetics.

Understand the concept and significance of jurisdiction in legal cases.

Identify and explain the various types of jurisdiction, including federal question, diversity, and in rem jurisdiction.

Recognize and describe the importance of venue and standing in legal proceedings.

---

Definitions:

Overhead Cost

Indirect expenses related to manufacturing or production, which are not directly tied to a specific product, such as rent, utilities, and salaries of managers.

Activity Rates

are used in activity-based costing to allocate costs to products or services based on specific activities requiring the costs, like inspection or setup.

Activity-Based Costing

An approach to costing that apportions overhead and indirect charges to particular activities, ensuring more accurate cost determinations for products or services.

Overhead Cost

Expenses related to the general operation of a business that cannot be directly traced to a specific product or service, such as utilities and rent.