Please make sure this answer is ORIGINAL and have at least 250 words. This paper is due by Wednesday @ 5pm. Make sure this answer is relatable that someone will want to respond to it.In this discussion, we will examine how firms use budget and other information to evaluate the performance of individuals and of the firm. Students should be able to exhibit a familiarity with these concepts and how they are used.Explain the concepts of responsibility accounting and performance evaluation in your own words. How can these be used by a firm to improve their performance? Describe a balanced scorecard and explain how it differs from a traditional evaluation approach.