CMA Final Paper 20A Practice Questions - ICMAI CMA Final Paper 20A Strategic Performance Management And Business Valuation Exam

In the context of performance management, which statement best distinguishes 'efficiency' from 'effectiveness'?

Efficiency is doing the right things; effectiveness is doing things right Efficiency and effectiveness are synonyms used interchangeably in performance reports Efficiency is the ratio of output to input; effectiveness is the degree to which objectives are achieved Efficiency measures market share while effectiveness measures profit margin

Correct Answer:

Efficiency is the ratio of output to input; effectiveness is the degree to which objectives are achieved

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