COST ACCOUNTING
BALANCED SCORECARDS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Implementing the BSC methodology in our organization brings the benefit
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Helps guide current and future performance
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Use measures in four categories to align individual, organizational, and cross-departmental initiatives
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It is a learning system for testing, getting feedback, and updating the organization’s strategy.
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All of the above
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Explanation:
Detailed explanation-1: -The Balanced Scorecard approach helps organizations design key performance indicators (KPIs) for their various strategic objectives. This ensures that companies are measuring what actually matters. The BSC approach provides high-quality management information and offers data-driven insight to assist in decision-making.
Detailed explanation-2: -The heart of the balanced scorecard is a framework of four major categories or perspectives for strategy implementation – financial, customer, internal business, and innovation and learning: The financial perspective asks how the organization should appear to shareholders so that the company can succeed financially.
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