Asked by FRANCIS VENTURA on May 15, 2024
Verified
Which of the following are potential benefits of using multi-dimensional performance reporting?
I. Managers are less likely to miss facets of performance that impact financial results.
II. Performance measures can be more easily refined as strategies are changed and a better understanding of what works and what doesn't work is obtained.
III. In developing the system managers will focus on understanding cause and effect relationships in the way the business operates resulting in the discovery of opportunities for improvements.
A) Only II and III.
B) Only I and III.
C) I, II and III.
D) Only I and II.
Multi-Dimensional Performance Reporting
A comprehensive approach to performance measurement that considers various factors beyond financial metrics to evaluate an organization's overall performance.
Financial Results
The outcome of a company's activities in numerical terms over a specific period, often presented in income statements, balance sheets, and cash flow statements.
Cause and Effect Relationships
The principle that every effect has a specific and predictable cause, commonly applied in scientific and logical analysis.
- Understand the implications of financial decision-making on company divisions.
Verified Answer
Learning Objectives
- Understand the implications of financial decision-making on company divisions.
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