Final answer:
A set of integrated financial and operating performance measures designed to provide a comprehensive view of an organization's performance and align its activities with its strategic goals is known as a balanced scorecard.
Step-by-step explanation:
A set of integrated financial and operating performance measures that communicate an organization's priorities associated with achieving strategic goals is known as a balanced scorecard. This performance management tool is designed to provide a comprehensive view of an organization's overall performance by balancing financial and non-financial measures. It aids in aligning business activities to the vision and strategy of the organization, improving internal and external communications, and monitoring organizational performance against strategic goals.
Other options provided in the question like segment report, responsibility report, and master budget are also related to financial and performance reporting in businesses but serve different purposes. A segment report, for example, involves breaking down a company's financial data by divisions or segments for more detailed analysis. A responsibility report relates to measuring the performance of cost centers within an organization. Lastly, a master budget is a comprehensive financial planning document that consolidates all of a company's individual budgets.