The Financial Performance of Responsibility Centers Is Evaluated in the Balanced

question 31

True/False

The financial performance of responsibility centers is evaluated in the balanced scorecard under the financial section of the scorecard.

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Definitions:

Opening Balance

The opening balance is the amount of funds in an account at the start of a new accounting period, carried over from the end of the previous period.

New Account

The initial setup or registration of an account in a financial system or online service.

Account Options

Various choices available to users for setting up, managing, and customizing their financial accounts within a software or service.

Edit Account

Making changes to the details or settings of an account within a system.