In Current Times the Focus of Managers Has Tended to Shift

question 46

Multiple Choice

In current times the focus of managers has tended to shift away from measurement systems that rely on financial data to the design of total management systems. Which of these is not a total management system?

• A) Total quality management (TQM)
• B) Management by objectives (MBO)
• C) The balanced scorecard (BSC)
• D) Activity-based costing (ABC)

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Definitions:

Contractual Obligations

Legal commitments arising from contracts that parties have agreed to and are bound to fulfill.

Major Modification

A significant change or alteration to the original terms, structure, or conditions of an agreement or object.

Assignment

Shifting the possession of property, the burden of obligations, or rights from one side to another.

Consignment

An arrangement where goods are left in the possession of another party to sell, but the owner retains ownership until the goods are sold.