Which of the following is the definition of benchmarking?
A)Benchmarking is the analysis of a financial statement that shows each item as a percentage of net sales or total assets.
B)Benchmarking is the comparison of two companies using horizontal analysis.
C)Benchmarking is the study of percentage changes in financial statement line items year to year.
D)Benchmarking is the practice of comparing a company with other companies in that industry.

Question

Quizplus · Accepted Answer

Benchmarking is the practice of comparing a company with other companies in that industry to identify best practices and areas for improvement. It involves analyzing key performance metrics and processes to gain a competitive edge.

Which of the Following Is the Definition of Benchmarking