26 Which of the following is not true of the balanced scorecard approach to performance measurement? The planning horizon focus is very short term It should include measures of financial, customer, internal process, and learning and growth activities It includes financial and nonfinancial measures The measures developed must match the company's strategy and vision Which of the following is not true of the balanced scorecard approach to performance measurement? It can be effective in manufacturing, merchandising, and service firms The measures should be linked such that improvement on one measure should lead to improvement in related measures The measures developed must match the company's strategy and vision A standard balanced scorecard can be developed to suit many organizations A process that measures all costs involved in creating, producing, and using a product is known as: Life cycle costing Outcome performance measures Leading performance measures Balanced scorecard