COST ACCOUNTING
BALANCED SCORECARDS
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Detailed explanation-1: -Goals are higher level statements than objectives. Objectives describe the measurable contribution of the transport system to achieving the goals. Targets are specific desired outcomes that support achievement of the objectives.
Detailed explanation-2: -A goal is an outcome you want to achieve, while an objective is a specific and measurable action that can be reached in a short amount of time, often related to a goal.
Detailed explanation-3: -Goals can be intangible and non-measurable, but objectives are defined in terms of tangible targets. For example, the goal to “provide excellent customer service” is intangible, but the objective to “reduce customer wait time to one minute” is tangible and helps in achieving the main goal.