All the Following Are Methods of Comparison Used in Performance

question 36

Multiple Choice

All the following are methods of comparison used in performance measurement.Which are inadequate as contemporary measures?
i.Standard costs
ii.Past periods
iii.Budget targets
iv.Benchmarks

• A) i,ii and iv
• B) ii,iii and iv
• C) i,iii and iv
• D) i,ii and iii

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Definitions:

Store Equipment

Fixed assets such as furniture and machinery used in a store for its operation and not for resale.

Depreciation

Depreciation is an accounting method of allocating the cost of a tangible asset over its useful life, reflecting the reduction of value over time.

Non-Current Asset

An asset expected to provide economic benefits beyond one year, such as property, plant, and equipment.

Useful Life

The estimated duration a fixed asset is expected to be productive and functional for a company, impacting depreciation calculations.