COST ACCOUNTING
BALANCED SCORECARDS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Articulates the shared vision of the company.
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Provides a complete strategic turn to the company
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Provides the strategic feedback system.
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Facilitates strategy review.
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Detailed explanation-1: -The balanced scorecard involves measuring four main aspects of a business: Learning and growth, business processes, customers, and finance.
Detailed explanation-2: -The four perspectives of a traditional balanced scorecard are Financial, Customer, Internal Process, and Learning and Growth.
Detailed explanation-3: -The balanced scorecard is anchored on four perspectives, which include financial, business process, customer, and organizational capacity.
Detailed explanation-4: -The balanced scorecard is a management system aimed at translating an organization’s strategic goals into a set of organizational performance objectives that, in turn, are measured, monitored and changed if necessary to ensure that an organization’s strategic goals are met.