Performance Measures That Provide a Focus on the Efficiency and Effectiveness

question 17

Short Answer

Performance measures that provide a focus on the efficiency and effectiveness of production processes are referred to as ____________________ measures.

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Definitions:

Source Documents

Original records that provide evidence and details of business transactions, such as receipts and invoices.

Debit

A financial record that elevates an asset or expense account, or lessens a liability or equity account.

Double-entry Accounting

An accounting method where every financial transaction results in equal and opposite effects in at least two different accounts.

Ledger

A book or collection of financial accounts where all transaction records are summarized and recorded.