When Developing Performance Measures,management Must Consider a Number of Different

question 46

True/False

When developing performance measures,management must consider a number of different issues besides what to measure and how to measure.

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Definitions:

Opportunity Cost

The worth of the best option given up because of a choice made.

Dollar Terms

Financial transactions or economic measurements that are denominated in the U.S. dollar currency.

Opportunity Cost

Opportunity cost is the value of the next best alternative foregone as the result of making a decision, essentially what you give up to get something else.

Benefits

Various forms of value or advantages that individuals or organizations receive, which can include health insurance, pensions, or profits.