Which of the Following Is the Definition of Benchmarking

question 26

Multiple Choice

Which of the following is the definition of benchmarking?

• A)Benchmarking is the analysis of a financial statement that shows each item as a percentage of net sales or total assets.
• B)Benchmarking is the comparison of two companies using horizontal analysis.
• C)Benchmarking is the study of percentage changes in financial statement line items year to year.
• D)Benchmarking is the practice of comparing a company with other companies in that industry.

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Definitions:

Diffusion Of Responsibility

A psychological phenomenon where people are less likely to take action or feel a sense of responsibility in the presence of a large group of people.

Social Acceptance

The degree to which an individual is acknowledged or recognized as part of a social group, gaining approval or support.

Groupthink

A mental phenomenon where a group's need for consensus or uniformity leads to illogical or ineffective decision-making results.

Milgram's Experiment

A series of social psychology experiments conducted by Stanley Milgram, which measured the willingness of study participants to obey an authority figure who instructed them to perform acts conflicting with their personal conscience.