Question

Which of the following statements is true about Fund Balance classifications for the governmental funds?

A. A restricted fund balance is for monies the governing board has appropriated.
B. An assigned fund balance has been designated for a specific purpose and is restricted to use for only that purpose.
C. An unassigned fund balance has no restriction for use of the money and is only applicable to the General Fund.
D. A committed fund balance has been designated by an outside party for a particular use.
E. A non-spendable fund balance is designated only for Permanent Fund balances.

Answer 1

The 'financial' perspective is the focus of most firms' strategy maps within the Balanced Scorecard framework, as it represents the ultimate measure of a company's performance.

Step-by-step explanation:

The phrase you are looking for to complete the statement “For most firms the ______________ perspective of the balanced scorecard is the target of the strategy map.” is the “financial” perspective. The Balanced Scorecard includes four perspectives: financial, customer, internal business processes, and learning and growth. The financial perspective is typically the ultimate target because it reflects the overall financial performance, which is the end goal of most firms' strategies. The other perspectives support this goal with a more detailed focus.

The financial perspective measures how well the company is doing financially, representing the ultimate outcome of implementing a firm's strategy as manifested in revenues, profit, and return on investment. The customer perspective looks at customer satisfaction and retention, the internal business process perspective assesses the efficiency and quality of internal processes, and the learning and growth perspective considers employee training and corporate cultural attitudes related to both individual and corporate self-improvement. They all serve to inform and improve financial outcomes.