1. Which of the following is an advantage of standard costs?
a. Contribution to management control.
b. Promotion of greater economy and efficiency.
c. Simplification of the costing of inventories and reduction of clerical costs.
d. All of the above.
2. Which of the following is an objective of the customer perspective of a balanced scorecard?
a. Credit rating
b. Brand recognition
c. Percentage of defect-free products
d. Ethics violations
3. The objective of reducing waste refers to which perspective of a Balanced Scorecard?
a. Financial
b. Customer
c. Internal Process
d. Learning and Growth