What is the balanced scorecard?
A)an activity-based responsibility accounting model that measures operating activities
B)a financial-based responsibility accounting model that focuses on the financial performance of units,rewarding performance with static financial-oriented standards
C)a strategic-based financial reporting system that balances assets with liabilities and owner's equity
D)a strategic-based performance management system that identifies objectives and measures from a financial perspective,customer perspective,process perspective,and learning and growth perspective

Question

Quizplus · Accepted Answer

The balanced scorecard is a strategic-based performance management system that takes a more holistic approach to measuring performance by considering objectives and measures from multiple perspectives, including the financial, customer, process, and learning and growth perspectives. Option A refers to an activity-based responsibility accounting model, while option B is a financial-based responsibility accounting model. Option C describes a financial reporting system that balances assets, liabilities, and owner's equity, which is not directly related to performance management.

What Is the Balanced Scorecard