1.) In what manner does the balanced scorecard challenge managers? I To focus on the single most important measure to the company II To perform on a variety of dimensions simultaneously III To look forward as well as backward

A.) II and III B.) I, II, and III C.) I and II D.) I and III

2.) Which of the following accurately describes a way in which standard costs are developed? A.) Standard labor wage rates may be determined by engineering studies.

B.) Standard material quantities can be determined by performing time-and-motion studies.

C.) Recipes or formulas can be used to determine material price standards.

D.) Supplier price lists may be used to determine material price standards.