What is a balanced scorecard?
A) It shows profits or losses at a point in time, which is displayed in a Sales - Expenses = Net Income format.
B) It shows assets and liabilities at a point in time.
C) It tallies organizational performance in financial, customer service, internal process, and innovation and Learning areas.
D) It occurs when revenues are equal to costs.
E) It reduces costs and improves workflow by scheduling materials to arrive at a workstation or facility just in time for use.

Question

Quizplus · Accepted Answer

A balanced scorecard is a framework used to measure and manage the performance of an organization. It includes measurements in four key areas: financial, customer service, internal process, and innovation and Learning. This approach helps to ensure that strategic goals are being met across all areas of the organization and not just solely on financial performance. A and B are examples of financial statements, while D and E describe other business concepts.

What Is a Balanced Scorecard