Question

Select the incorrect statement concerning nonfinancial performance measures (NFPMs). NFPMs are based on nonmonetary details, such...

Select the incorrect statement concerning nonfinancial performance measures (NFPMs).

NFPMs are based on nonmonetary details, such as time, quantities, and ratios.

Using as many NFPMs as possible will increase employee motivation.

Appropriate nonfinancial metrics are those that can be clearly articulated and defined.

NFPMs have many distinct advantages over financial performance measures.
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Answer #1

Solution: Using as many NFPMs as possible will increase employee motivation

Explanation: NFPMs utilizes the information contained in the cost management, instead of the financial accounting, system. These are based on nonmonetary details, such as quantities, time, and ratios. An appropriate nonfinancial metrics are defined and clearly articulated. It holds distinct gains over financial performance measures. However usage of as many NFPMs as possible will not increase the motivation of employees.

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