Time to Settle a Claim from a Customer Is an Example

question 42

Multiple Choice

Time to settle a claim from a customer is an example of a performance measure in the following group

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

---

Definitions:

Market Price

The current price at which a good or service can be bought or sold on the open market, determined by supply and demand forces.

Profit-Maximizing Firm

A company that operates with the objective of making the highest possible profit.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision, representing the benefits one misses out on.

Accounting Profits

The total revenue of a company minus the explicit costs, not including opportunity costs, showing the financial performance.