One Part of the Balanced Scorecard Helps Management Answer the Question

question 10

Multiple Choice

One part of the balanced scorecard helps management answer the question: "What business processes must we excel at in order to reach our objectives?" Which of the four perspectives is being described here?

• A) Financial perspective
• B) Customer perspective
• C) Internal business perspective
• D) Learning and growth perspective

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Definitions:

Useful Life

The estimated time period an asset is expected to be used by a company before it is no longer useful or becomes obsolete.

Double-Entry System

An accounting system where each transaction is entered twice, as a debit in one account and a credit in another, to ensure the accounting equation is always balanced.

Financial Statements

Papers that deliver a summary of a company's financial health, featuring the income statement, balance sheet, and cash flow statement.

External Auditors

Independent third-party auditors who evaluate an organization’s financial statements to ensure accuracy and compliance with accounting standards.