Which of the following statements is true of benchmarking?
A. It describes the relative proportions of a firm's assets, liabilities, and owners' equity.
B. It involves setting up standards and then measuring performance against them.
C. It sets cost targets for all phases of design, development, and production of a product for each accounting period.
D. It is a series of prescribed steps to be taken to ensure that a profit will be made.
Answer: B
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Which of the following is one of Hofstede's four cultural dimensions that differentiate countries?
A) customer relationship management versus power distance B) strategic management versus marketing management C) weak versus strong uncertainty avoidance D) total quality management versus JIT deliveries E) marketing management versus customer relationships
Matt's retail store offers all products at $2 less than its competitors. The store never runs promotional campaigns or offers special discounts. Matt's retail store is following a(n) ________ pricing policy
A) auction-type B) target-plus C) everyday low D) high-low E) going-rate
Sales transactions should be documented at initiation in order to accomplish which of the following objectives?
a. To provide the customer a copy of the transaction. b. To provide evidence of authorization and recording. c. To offer credit to customers. d. To generate back orders.
In today's digital age, handwritten thank-you notes ________
A) are inappropriate B) signal a resistance to new forms of technology and social media C) convey a more meaningful expression of gratitude D) mean less to the recipient than a post on Facebook E) are more common than ever c