COST ACCOUNTING
BALANCED SCORECARDS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Improved utilization of company resources
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Additional assets for the company
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Economic added value used by the company
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The source of the revenue component of the company’s financial goals
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Detailed explanation-1: -The customer perspective monitors how the entity is providing value to its customers and determines the level of customer satisfaction with the company’s products or services. Customer satisfaction is an indicator of the company’s success.
Detailed explanation-2: -The customer perspective within the Balanced Scorecard – BSC for short, enables organizations to target the market segments in which they have chosen to succeed.
Detailed explanation-3: -Balanced scorecards enable businesses to collect and analyze data from four critical areas: learning & growth, business operations, customers, and finance.
Detailed explanation-4: -The financial perspective of the balanced scorecard. It is focused on growth, risk, and profitability from the perspective of the shareholder.