The first modern industry to develop and use large quantities of financial statistics to assess and monitor organizational performance was:
A)steel companies.
B)lumber companies.
C)the railroads.
D)automobile companies.

Question

Quizplus · Accepted Answer

The railroads were the first modern industry to develop and use large quantities of financial statistics to assess and monitor organizational performance. In the second half of the 19th century, railroads became the dominant mode of transportation in the United States, and their success depended on the efficient use of resources and the ability to analyze financial data to make informed decisions. Railroad companies developed complex systems to track revenue, expenses, and operational performance, and they used this data to identify opportunities for cost savings and increased efficiency. This approach to financial analysis became a model for other industries, including steel, lumber, and automobiles, which adopted similar systems to monitor their own performance.

The First Modern Industry to Develop and Use Large Quantities