How is the use of a balanced scorecard as a performance evaluation system helpful to companies?
What will be an ideal response
The balanced scorecard represents a major shift in corporate performance measurement. Rather than treating financial indicators as the sole measure of performance, companies recognize that they are only one measure among a broader set. Keeping score of operating measures and traditional financial measures gives management a "balanced" view of the organization.
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When making an investment, always consider the ________, which is the cost of your next-best investment.
A. next-investment cost B. cost of goods sold C. opportunity cost D. marginal cost
Willis Company had $200,000 in credit sales for Year 1, and it estimated that 2% of the credit sales would not be collected. The balance in Accounts Receivable at the end of the year was $38,000. Willis had never used the allowance method to account for its receivables until Year 1. The net realizable value of its accounts receivable at the end of the year was $34,000.
Answer the following statement true (T) or false (F)
Hofbauer Inc. has provided the following data concerning one of the products in its standard cost system.InputsStandard Quantity or Hours per Unit of OutputStandard Price or RateDirect labor0.30 hours$21.00 per hourThe company has reported the following actual results for the product for September: Actual output 5,600unitsActual direct labor-hours 1,540hoursActual direct labor rate$21.40per hourActual direct labor cost$32,956 The labor efficiency variance for the month is closest to:
A. $2,940 U B. $2,940 F C. $2,996 U D. $2,996 F
Identify the three major categories of growth strategies.
What will be an ideal response?