CPA Business Environment and Concepts (BEC) : Balance Scorecard and Benchmarking

Study concepts, example questions & explanations for CPA Business Environment and Concepts (BEC)

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Example Questions

Example Question #1 :平衡的年代corecard And Benchmarking

The management of a company would do which of the following to compare and contrast its financial information to published information reflecting optimal amounts?

Possible Answers:

Budget

Utilize best practices

Benchmark

Forecast

有限公司rrect answer:

Benchmark

Explanation:

Benchmarking is the process of comparing and contrasting financial information.

Example Question #2 :平衡的年代corecard And Benchmarking

What is the process by which products and services of a business entity are measured and evaluated relative to the best possible levels of performance?

Possible Answers:

Standard measurement

Benchmarking

Measuring the performance gap

Variance management

有限公司rrect answer:

Benchmarking

Explanation:

Measuring and evaluating relative to levels of performance is a prime example for benchmarking.

Example Question #3 :平衡的年代corecard And Benchmarking

Which of the following is a financial measure of success in a balanced scorecard?

Possible Answers:

Sales growth

Cycle time

Staff morale

Market share

有限公司rrect answer:

Sales growth

Explanation:

The balanced scorecard can be benchmarked for success by a firm's sales growth metric.

Example Question #4 :平衡的年代corecard And Benchmarking

Which of the following would be most impacted by the use of the percentage of sales forecasting method for budgeting purposes?

Possible Answers:

有限公司mmon stock

Accounts payable

Bonds payable

Mortgages payable

有限公司rrect answer:

Accounts payable

Explanation:

Of the items listed, A/P would be most impacted by the use of the percentage of sales forecasting method for budgeting purposes.

Example Question #5 :平衡的年代corecard And Benchmarking

Which of the following ratios is appropriate for the evaluation of accounts receivable?

Possible Answers:

有限公司llection to debt ratio

Days sales outstanding

Return on assets

Current ratio

有限公司rrect answer:

Days sales outstanding

Explanation:

Among the ratios listed, the ratio that is appropriate for the evaluation of accounts receivable is the number of days sales are outstanding.

Example Question #1 :平衡的年代corecard And Benchmarking

Of the following success factors in a balanced scorecard, which focuses on the retention of key employees?

Possible Answers:

Advancement of innovation and human resource development

Financial

Internal business processes

Customer satisfaction

有限公司rrect answer:

Advancement of innovation and human resource development

Explanation:

Through the advancement of innovation and the learning and growth of employees, a firm can strive toward retaining key employees which is beneficial for future success.

All CPA Business Environment and Concepts (BEC) Resources

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