ECONOMICS

COST ACCOUNTING

BALANCED SCORECARDS

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which is not an essential element for the development of specific operational objectives and measures from a financial perspective
A
Income growth
B
Cost Reduction
C
Cost Increase
D
Use of Assets
Explanation: 

Detailed explanation-1: -The four perspectives of a traditional balanced scorecard are Financial, Customer, Internal Process, and Learning and Growth.

Detailed explanation-2: -What Are the Four Perspectives of the Balanced Scorecard? The four perspectives of a balanced scorecard are learning and growth, business processes, customer perspectives, and financial data. These four areas, which are also called legs, make up a company’s vision and strategy.

Detailed explanation-3: -The correct answer is b) External control perspective. The four perspective of a balanced scorecard are: Financial Perspective-adding value for shareholders.

Detailed explanation-4: -Under the financial perspective, the goal of a company is to ensure that it earns a return on the investments made and manages key risks involved in running the business. The goals can be achieved by satisfying the needs of all players involved with the business, such as the shareholders, customers, and suppliers.

There is 1 question to complete.