Which of the Following Is an Advantage of Using Balanced

question 45

Multiple Choice

Which of the following is an advantage of using balanced scorecard?

• A) It eliminates the need to communicate the details of the plan to the employees.
• B) It eliminates managerial effort when providing incentives to employees.
• C) It increases the pay for all employees in the organization regardless of their performances.
• D) It reduces employee stress because it does not focus on financial targets.
• E) It helps employees understand the organization's goals.

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Definitions:

Material Quantity

The amount of raw materials or supplies used in the production of goods, often monitored to control costs and ensure efficient resource use.

Labour Rate Variance

The difference between the actual cost of direct labor and the expected (or standard) cost, based on the hours worked.

Favourable Variance

A financial term indicating that actual costs were lower than budgeted costs, or actual revenues were higher than expected.

Variances

The differences between planned financial outcomes and the actual results, used in budgeting and accounting to track performance and plan future activities.