9. A balanced scorecard is a) a performance-measurement approach that uses both financial and non-financial measures to evaluate a company's operations in an integrated way. b) a tool used to measure the benefits and costs of implementing a new strategy. c) used only by small organizations that cannot afford more expensive methods of evaluating their operations. d) focuses on non-financial measures in order to balance the many other financial reports companies Use to evaluate their onerations
Q: The following data from the just completed year are taken from the accounting records of Mason Compa...
A: Solution 1: Mason Company Schedule of cost of goods manufactured Particulars Details Amoun...
Q: A debit side entry must have a corresponding credit side entry. The normal balance of an account ref...
A: Solution Debit and credit are used in company bookkeeping in order for its books to balance.
Q: Section I: 44 points On May 31, 2012, Deana's Services Company had account balances as follows: Acco...
A: 1. Income Statement 2. Balance Sheet The first statement shows the income earned and loss incurred b...
Q: Bergen Hospital is contemplating an investment in an automated surgical system. Its current process ...
A: Formula: Degree of Operating Leverage = Contribution margin/ Net Income
Q: When the interest payment dates of a bond are May 1 and November 1, and the bond is issued on June 1...
A: The bond interest expense will recorded for date of bond issuance to date of financial year. When ...
Q: askMaster Enterprises employs a standard cost system in which direct materials inventory is carried ...
A: Material efficiency- Material efficiency is a explanation or metric which expresses the scale in whi...
Q: If you were interested in determining a company's ability to survive over a long period of time, you...
A: If you were interested in determining a company's ability to survive over a long period of time, you...
Q: PART II - Below are 2019 FMT Company Cash flow accounts. Increase in bonds 170.0 Net income 117.5 In...
A: Statement of cash flows: It is a financial statement that shows the increase or decrease in the cash...
Q: a company produces certain items at a labor cost of P 115 each, material cost of P 76 each and varia...
A: Break even point is that point where total cost and total revenue are equal ,i.e., there is no profi...
Q: Based upon the balances above, what net adjustment would be made to Retained Earnings due to closing...
A: Retained earnings refers to that portion of the after-tax profit of the company which the company de...
Q: A library shelving system has a first cost of $24,500 and a useful life of 7 years. The annual maint...
A: benefit-cost ratio = Present value of cash inflows / Present value of cash outflows Present valu...
Q: A manufacturer gives warranties at the time of sale to purchasers of its product. Under the terms of...
A: The answer is stated below:
Q: A machine costs rs. 22,000 and it's salvage value after its useful life of 5 years is rs. 4,000. Ear...
A: Discounted cash flow method is an analysis used widely by the management to determine the profitabil...
Q: PART I- FMT Company had the following balance sheets and income statements accounts over the last th...
A: Horizontal Analysis - Horizontal Analysis is calculated by first calculating difference between bas...
Q: Prepare a Statement of Changes in Owner's Equity
A: Statement of (Owner’s) stockholders’ equity refers to a financial statement which shows the shares i...
Q: ears DIC 5,000. Then much? Exnl
A: Here, x be the age for property, y be the age for comp.
Q: GHT Corporation reports the following amounts in its December 31, 20XD income statement: I5950.000 C...
A: Net Sales=Sales-Sales Returns & Allowances-Sales Discounts Gross Profit=Net Sales-Cost of Goods ...
Q: This refers to the process of transferring the debit and credit amounts from the journals to the led...
A: The correct option in the given question is: POSTING Journal entries are posted to ledger accounts...
Q: A manufacturing shop has annual fixed expenses of P500,000,000 and variable costs of P1,400 per boar...
A: Break even in cost accounting refers to a point where total costs are equal to total revenue and the...
Q: Steinwand Corporation keeps track of the time required to fill orders. Data concerning a particular ...
A: Manufacturing cycle time is the time taken by the company in manufacturing a product starting from t...
Q: Montel Company's July sales budget shows sales of $540,000. The company budgets beginning merchandis...
A: Cost of goods sold = Sales x 40% = 540,000 x 40% = 216,000
Q: Suppose a sole proprietor withdraws supplies from the firm. The journal entry should be O Dr. Capita...
A: Since you have asked multiple question, we will solve the first question for you. If you want any sp...
Q: alize Materials Purchases The following are the transactions of Dolphin Company for the month of Nov...
A: The Journalizing of the transactions is process of recording the all business transaction in the Jo...
Q: Prepare the journal entries required for 2020 using the Expense approach, specifically for the sales...
A: Ariana Corporation includes two coupons in each box of cereal box and 9 coupons are needed to be red...
Q: A sole proprietorship business is planning to incorporate its business to acquire more capital inves...
A: Sole proprietorship is a type of enterprise which is owned, controlled and managed by a single perso...
Q: 4. Which is true regarding the Non controlling interest? * [a] It is accounted for in the subsidiary...
A: Solution Concept The consolidated financial statements is required to be prepared by the parent comp...
Q: .Explain why companies must follow accounting standards in presenting financial statements.
A: Accounting standards are the policies and practices that every company needs to follow in preparing ...
Q: On October 1, 2002, Westridge Inc. issued, at 101 plus accrued interest, 800 of its 10 percent, $1,0...
A: "Since you have asked multiple questions, we will solve first question for you. If you want any spec...
Q: Calculate cash balances based on the information provided in the chart below and show me how you did...
A: Introduction Cash flow statement provides the information about cash inflows and outflows in a compa...
Q: A manufacturer of industrial equipment has a standard costing system based on standard direct labor-...
A: Overheads are those expenses which are not traceable over cost object directly. These expenses are i...
Q: Use the following to answer questions 22 – 29 GHT Corporation reports the following amounts in its D...
A:
Q: ve regularly?
A: The ways are given as,
Q: Use the following information for the Exercises below. (Algo) [The following information applies to ...
A: The Break-even point is the point at which the total cost of the production is equal to the total re...
Q: Solve by using compound table: (Round your answers to the nearest cent.) # of Periods to be Compound...
A: Compound Interest: Compound interest is the premium one procures on interest. In contributing, compo...
Q: THRALL SUAVE Company made the following erron Denumber 31 Pox1 inventory was understated by P100,000...
A:
Q: . What amount of pre-acquisition earnings is eliminated in the acquisition date worksheet eliminatio...
A: Since there is no revenue and expense of the acquire upto the date of acquisition.
Q: Health ’R Us, Inc., uses a traditional product costing system to assign overhead costs uniformly to ...
A: The question is based on the concept of Cost Accounting.
Q: Nellie has paid $3358.46 in CPP this year. She makes $2800.00 per pay and is paid bi-weekly How much...
A: Some pension plans are exempt by tax authority to the certain level to encourage individuals to save...
Q: a. What are the pros and cons of incorporating the business as regards taxation? b. Assume that the ...
A:
Q: 2. Determine the unit product cost of each product according to the ABC system. (Do not round interm...
A: Using activity based costing, the overhead is applied tp different activities on the basis of differ...
Q: A corporation has an excess input VAT due to its excessive local purchases of goods and services. Th...
A: Input VAT Input VAT Credit which are available for the business whether the entity made the purchase...
Q: 30. Find the monthly payment needed to save a P240000 down payment for a house in an annuity that pa...
A: Time value of money is the concept widely used by the management and individuals to determine the co...
Q: Baka Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning...
A: Lets understand the basics. Predetermine overhead rate is a overhead rate which is calculate to allo...
Q: e the incremental method to record the issuance of the bonds and warrants.
A: Solution Working note Method to be used =incremental method to record the issuance of the bo...
Q: Investors generally place their funds in equity securities because of: a.The expected dividends b ...
A: Equity investment is the possibility to increase the value of the principal amount invested. This co...
Q: Will they be able to save enough in time
A: Saving the money is an art which will make the life of the person who saves the money into good beca...
Q: An accountant wants to withdraw $30,000 from an investment at the beginning of each quarter for the ...
A: Time value money is the concept widely used by the management and individual to determine the correc...
Q: Statement of Changes in Owner's Equity
A: Statement of changes in owner's equity is similar like sole trader in case of sole proprietorship , ...
Q: an entity has an existing note maturing within 12 months from the balance sheet date. The entity has...
A: solution concept In case where there is a debt maturing within 12 months from the balance sheet date...
Q: Deferred expenses should be reported as O Expenses on the income statement O Income on the income st...
A: Deferred expenses : It refers to the cost incurred but this is recorded as expenses on a future date...
Step by step
Solved in 2 steps
- Which of the following statements is false? A. The four dimensions of performance that are considered in a balanced scorecard are financial, customer, internal process, and learning and growth B. A balanced scorecard will include qualitative and quantitative measures. C. Stakeholders cannot include stockholders. D. A balanced scorecard is the compatibility between personal goals and the goals of the organization.The balanced scorecard provides an action plan for achieving competitive success by focusing management attention on critical success factors. Which of the following is not one of the competitive success factors commonly found on the balanced scorecard? a. Competitor business strategies b. Financial performance measures c. Internal business processes d. Learning and growthClassify each of the following performance measures into the balanced scorecard perspective to which it relates: financial perspective, internal operations perspective, learning and growth perspective, or customer perspective. A. Number of improved products B. Time from packaging to delivery or display C. Production costs D. Number of customer suggestions E. Sales mix revenues F. Number of repeat customers
- Which of the following is not an objective used in the balanced scorecard approach? Customer Financial Vendor Learning and growthInstructions 1.Based on the balanced scorecard and the following descriptions of the predicted relationships between strategic objectives, draw the scorecards strategy map. a.Training employees effectively and reducing employee turnover can both be expected to improve returns processing and reduce shipping errors. b.Both improving returns processing and reducing shipping errors can be expected to delight the customer. c.Delighting the customer can be expected to increase market share. 2.Based on the balanced scorecard and the following descriptions of the predicted relationships between performance metrics, draw the scorecards measure map. a.Median training hours per employee and average employee tenure will both influence hours from returned to refunded and number of erroneous shipments. b.Both hours from returned to refunded and number of erroneous shipments will affect percentage of customers who shop again and online customer satisfaction rating. c.Both percentage of customers who shop again and online customer satisfaction rating will influence the companys market share. 3.Label each element of the balanced scorecard.Which of the following statements is true? I. A balanced scorecard consists of a report showing a performance measure such as ROI or residual income for all of the divisions in a company that generate profits. II. If a strategy is not working, it should become evident on the balanced scorecard when some of the predicted effects don't occur. III. In essence, a balanced scorecard lays out a theory of how the company can take concrete actions to attain its desired outcomes. The strategy should seem plausible, but it should be regarded as only a theory. Multiple Choice Both statements I and III are true. All of the statements are true. None of the statements are true. Both statements II and III are true.
- Which of the following statements is true? 1. Financial measures such as ROI are generally better than nonfinancial measures of key success drivers such as customer satisfaction as lead indicators of future financial performance. II. The performance measures on a balanced scorecard tend to fall into four groups: financial measures, customer measures, internal business process measures, and learning and growth measures. III. Financial measures such as ROI and residual income as well as operating measures may be included in a balanced scorecard. Multiple Choice Both statements II and Ill are true. None of the statements are true. Both statements I and Ill are true. All of the statements are true. planning6.If return on investment is a measure used on the balanced scorecard, under which perspective would it be listed?A)Financial perspectiveB)Customer perspectiveC)Learning and growth perspectiveD)Internal business perspectiveE)None of the above.7.What term is used to describe the continuous process of measuring a company's own products, services, and activities against competitors' performance?A)Balanced scorecardB)Business-level strategyC)BenchmarkingD)Internal calibrationE)None of the above.8.Which of the following is not an objective of continuous improvement?A)Improvement of the activities in which the organization engages through documentation and understanding.B)Elimination of activities that are nonvalue-added.C)Improvement of the efficiencies of activities that are value-added.D)Increasing activities that are considered nonvalue-added.E)None of the above.Which of the following statements about the balanced scorecard approach is false? It requires managers to focus on financial measures more than nonfinancial measures. It looks at performance from the following perspectives: financial, customer, internal business, and learning and growth. It helps balance short-term operating performance with long-term strategies. It recognizes that traditional measures of performance are often not adequate to fully assess a company’s performance.
- Which of the following describes the best way to build/create a balanced scorecard? O a. Step 1. Create a strategy map that captures the company's strategy and shows the cause-and-effect relationships (links) between different parts of the strategy. Step 2. Define performance measures in each of the 4 perspectie or categories of the Balanced Scorecard based on the strategy map O a. Step 1. Examine best practices for "Key Performance Indicators' used by Fortune 500 companies. Step 2. Use all of the measures which are used in the "best practice" examples. O a Step 1. List all possible performance measures that the compaury could cse Step 2. Put each measure into ane of the 4 perspectives" or categories of the Balanced Scorecard.Which of the following statements is true? A balanced scorecard consists of a report showing a performance measure such as ROI or residual income for all of the divisions in a company that generate profits. If a strategy is not working, it should become evident on the balanced scorecard when some of the predicted effects don’t occur. In essence, a balanced scorecard lays out a theory of how the company can take concrete actions to attain its desired outcomes. The strategy should seem plausible, but it should be regarded as only a theory.Please answer ASAP.Financial performance measures are essential tools used by managers to evaluate the financialhealth of their organization. They provide an overview of the company's financialperformance, help identify areas of improvement, and support decision making.CarniTrin is a manufacturer of Carnival costumes in a highly competitive market. Thecompany's management team is seeking guidance on the use of financial performancemeasures to identify the key drivers of the company's financial performance and develop astrategy to improve it.The following data relate to the company for the year 2019: In its clothing division, the company has $4,000,000 invested in assets. After-taxoperating income from sales of clothing in 2019 is $700,000. Income for the clothingdivision has grown steadily over the last few years. The cosmetics division has $12,000,000 invested in assets and an after-tax operatingincome in 2019 of $1,700,000. The weighted-average cost of capital for CarniTrin is 10%…