Answered: Properly designed performance measures…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Every business should have a strategic plan (a broad vision) of how/where it will be in the future. This plan leads to goals that must be achieved to fulfill that vision. Once goals are determined, the business will decide on the appropriate actions necessary to meet the goals. Then, the business will implement, review, and adjust the goals as needed.

Properly designed performance measures will help move the company toward meeting the goals of its strategic plan.

True / False

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