All the following are methods of comparison used in performance measurement. Which are inadequate as modern measures?
i. Standard costs
ii. Past periods
iii. Budget targets
iv. Benchmarks
A) i, ii and iv
B) ii, iii and iv
C) i, iii and iv
D) i, ii and iii

Question

Quizplus · Accepted Answer

Standard costs, past periods, and budget targets are considered inadequate as modern measures of performance comparison because they may not fully capture the dynamic and complex nature of current business environments. Benchmarks, on the other hand, can offer a more relevant comparison by considering the performance of peers or industry standards.

All the Following Are Methods of Comparison Used in Performance