16. Which of the following is an advantage of standard costs? a. Contribution to

Question

16. Which of the following is an advantage of standard costs?

a.   Contribution to management control.

b.   Promotion of greater economy and efficiency.

c.   Simplification of the costing of inventories and reduction of clerical costs.

d.   All of the above.

17. Which of the following is an objective of the customer perspective of a balanced scorecard?

a.   Credit rating

b.   Brand recognition

c.   Percentage of defect-free products
d.   Ethics violations

The objective of reducing waste refers to which perspective of a Balanced Scorecard?

a. Financial

b. Customer

c.   Internal Process
d.   Learning and Growth

Explanation / Answer

16. All the described are the advantages of standard cost. Therefore (d) all of the above is the correct answer

17. The customer perspective of abalanced scorecard helps focuses on customer satisfaction. Therefore, customer need to recoginze the brand to be associated with the compnay. Credit rating comes in financial perspective. Defect free products comes in internal process and ethics violation can be categorized as learning and growth. Hence Answer is (b) Brand recognition.

Finally objective of waste refers to "Internal procss" of the balanced scorecard as interna; process focuses on bringing efficiency and reducing waste in producing the product for the customer. Hence anser is (c) Internal process

Related Questions

Navigate

• Browse (All)
• Browse 1
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.