COST ACCOUNTING
PERFORMANCE MEASUREMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The hierarchy of performance measures has the following advantages. . . . ., except . . . . . .
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Provide relevant performance information to every level of management<br />
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Measures at lower levels can be combined into measures at higher levels
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Sizes at higher levels can be decomposed into sizes at lower levels
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Provide the right information at the right time
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Can save measurement time
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Explanation:
Detailed explanation-1: -Using performance measures on a regular basis helps to inform decisions and means a plan can be adjusted mid-course or priorities can be reset to take advantage of emerging opportunities. An internal performance measurement system will drive results and enable an organization to learn from its successes and failures.
Detailed explanation-2: -Financial, Customer, Internal Business Process, and Learning and Growth.
Detailed explanation-3: -Helps identify the right employees for promotion. Improves workforce planning, including managing workloads and delegation. Boost employee retention/reduces employee turnover. Gives employees more autonomy to manage their responsibilities.
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