The Following Information Is Based on a Fictitious Canadian Bank

question 68

Multiple Choice

The following information is based on a fictitious Canadian Bank (CB) and none of the numbers provided herein are real. CB assets total $46.1 billion, it has loans of $26 billion, and total deposits of $35.5 billion. It provides online, telephone, and traditional banking and investment services to both individuals and businesses in Canada and abroad. CB's mission is to create an exceptional customer experience by providing solutions through leading technologies, offering a wide selection of financial products and services, and leveraging experience to meet customers' needs. CB could develop a balanced scorecard for:
I. The organization as a whole
II. Individual branches
III. Domestic branches only
IV. International branches only

• A)I, II, and III only
• B)II, III, and IV only
• C)I, II, and IV only
• D)I, II, III, and IV

---

Definitions:

Materials Account

An account used to track the cost of raw materials that are bought and used during production processes.

Debit

An accounting entry that results in either an increase in assets or a decrease in liabilities on a company’s balance sheet.

Labour Efficiency Variance

The difference between the actual hours worked and the standard hours allowed for the work performed, often used to assess workforce productivity.

Material Price Variance

The difference between the actual cost of materials and the expected (standard) cost, multiplied by the quantity of materials purchased.