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The management of a company would do which of the following to compare and contrast its financial information to published information reflecting optimal amounts?
Benchmarking is the process of comparing and contrasting financial information.
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What is the process by which products and services of a business entity are measured and evaluated relative to the best possible levels of performance?
Measuring and evaluating relative to levels of performance is a prime example for benchmarking.
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Which of the following is a financial measure of success in a balanced scorecard?
The balanced scorecard can be benchmarked for success by a firm's sales growth metric.
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Which of the following would be most impacted by the use of the percentage of sales forecasting method for budgeting purposes?
Of the items listed, A/P would be most impacted by the use of the percentage of sales forecasting method for budgeting purposes.
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Which of the following ratios is appropriate for the evaluation of accounts receivable?
Among the ratios listed, the ratio that is appropriate for the evaluation of accounts receivable is the number of days sales are outstanding.
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Of the following success factors in a balanced scorecard, which focuses on the retention of key employees?
Through the advancement of innovation and the learning and growth of employees, a firm can strive toward retaining key employees which is beneficial for future success.
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