Financial and Non-Financial Indicators Are Used to Assess Organisational Performance

question 67

Multiple Choice

Financial and non-financial indicators are used to assess organisational performance and effectiveness under which of the following approaches?

• A) Balanced budget
• B) Balanced scorecard
• C) Variance analysis
• D) Proforma financial statement

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Definitions:

Marginal Utility

The additional satisfaction or usefulness obtained from receiving one more unit of a product or service.

Price Ratio

A comparison of the prices of two goods or services, used to analyze consumer preferences or the cost-effectiveness of different products.

Income

The money received by an individual or business in exchange for labor, services, or investment, often measured on a regular basis like monthly or yearly.

Marginal Utility

Marginal utility refers to the extra satisfaction or benefit a consumer receives by consuming an additional unit of a good or service.