Explain, with supporting reasons, whether or not you agree with the following statements below:

(a) "Balanced Scorecard is a new approach to measure firm's performance. It places more

weight on the non-financial dimension" (Management Accountant)

(b) Target costing is an approach to better cope with cut throat competition and isa method of

costing that sets a target price by adding a desired profit margin to actual cost'.

(Marketing Manager)

(c) Relevant costing principles attempt to recover all costs whether incurred or not while

tendering for competitive bids". (Procurement Manager)

(d) "Direct labour hours are the most appropriate basis to use to charge indirect cost

(overheads) to jobs in the modern manufacturing environment where people are so

important" (Cost Controller)