Question 1

Traditionally, boards try to control CEO performance mainly through

Accepted Answer

A)  salary schedules. 
B)  bonuses tied to productivity. 
C)  balanced scorecards. 
D)  incentive pay. 
E)  bonuses tied to long-term profit targets. 
A)  salary schedules. 
B)  bonuses tied to productivity. 
C)  balanced scorecards. 
D)  incentive pay. 
E)  bonuses tied to long-term profit targets. D

Question 2

A(n) ________ is a report that shows the financial picture of a company at a given time and itemizes assets, liabilities, and stockholders' equity.

Accepted Answer

A)  profit and loss statement 
B)  balance sheet 
C)  expense report 
D)  income statement 
E)  budget report 
A)  profit and loss statement 
B)  balance sheet 
C)  expense report 
D)  income statement 
E)  budget report B

Question 3

Using market control mechanisms is criticized for

Accepted Answer

A)  relying too heavily on rules and procedures. 
B)  not adequately reflecting organizations' total value. 
C)  being too dependent on the organizational culture. 
D)  enhancing environmental sustainability. 
E)  overly centralizing decision making and power. 
A)  relying too heavily on rules and procedures. 
B)  not adequately reflecting organizations' total value. 
C)  being too dependent on the organizational culture. 
D)  enhancing environmental sustainability. 
E)  overly centralizing decision making and power. D

Question 4

A division manager whispered to his peer as they left the monthly executive meeting, "Our new CEO is going to play hardball. Any of us whose division is performing with significant negative deviation from the established budget is going to get a lot of her concentrated attention." "What do you expect?" countered Randy. "She told us in our meeting that she would be using ________ as part of her control system."

Accepted Answer

A)  the balance sheet 
B)  management myopia 
C)  our employment relationship 
D)  the principle of exception 
E)  the balance scorecard 
A)  the balance sheet 
B)  management myopia 
C)  our employment relationship 
D)  the principle of exception 
E)  the balance scorecard

Question 5

________ is the amount accruing to the corporation's owners.

Accepted Answer

A)  Stockholders' equity 
B)  Liability 
C)  Dividend 
D)  Audit 
E)  Asset 
A)  Stockholders' equity 
B)  Liability 
C)  Dividend 
D)  Audit 
E)  Asset

Question 6

The most effective standards are expressed in ________ terms; they are objective more than subjective.

Accepted Answer

A)  quantitative 
B)  qualitative 
C)  balanced 
D)  adequate 
E)  technical 
A)  quantitative 
B)  qualitative 
C)  balanced 
D)  adequate 
E)  technical

Question 7

Control and ________ have been called the Siamese twins of management.

Accepted Answer

A)  planning 
B)  organizing 
C)  leading 
D)  directing 
E)  empowerment 
A)  planning 
B)  organizing 
C)  leading 
D)  directing 
E)  empowerment

Question 8

A company enforced a rule that employees were required to submit their cell phones for safekeeping before entering their work bay. Employees followed the rule in order to avoid getting into trouble with the management. As a result, many of them missed important phone calls from their clients/customers. This scenario is an example of

Accepted Answer

A)  market control. 
B)  management myopia. 
C)  dysfunctional behavior. 
D)  rigid bureaucratic behavior. 
E)  resistance to control. 
A)  market control. 
B)  management myopia. 
C)  dysfunctional behavior. 
D)  rigid bureaucratic behavior. 
E)  resistance to control.

Question 9

According to Michael Hammer, what are the seven "deadly sins" of performance measure to avoid?

Accepted Answer

Business consultant Michael Hammer has i

Question 10

________ ratio is the name of the most common liquidity ratio, current assets to current liabilities.

Accepted Answer

A)  Debt-equity 
B)  Current 
C)  Profit and loss 
D)  Return on investment 
E)  Stockholders' equity 
A)  Debt-equity 
B)  Current 
C)  Profit and loss 
D)  Return on investment 
E)  Stockholders' equity

Question 11

Market controls use

Accepted Answer

A)  rules and regulations. 
B)  economic forces. 
C)  authority. 
D)  sales and variable costs levels. 
E)  norms. 
A)  rules and regulations. 
B)  economic forces. 
C)  authority. 
D)  sales and variable costs levels. 
E)  norms.

Question 12

________ indicate a company's ability to pay short-term debts.

Accepted Answer

A)  Liabilities 
B)  Stockholders' equities 
C)  Assets 
D)  Liquidity ratios 
E)  Audits 
A)  Liabilities 
B)  Stockholders' equities 
C)  Assets 
D)  Liquidity ratios 
E)  Audits

Question 13

Describe at least four of the different types of budgets that are frequently used.

Accepted Answer

Four budgets that are frequently used ar

Question 14

TriCounty Health is a regional medical center. They tie pricing of services and profits to specific services in the medical center. TriCounty Health uses a ________ control system.

Accepted Answer

A)  bureaucratic 
B)  market 
C)  clan 
D)  feedforward 
E)  concurrent 
A)  bureaucratic 
B)  market 
C)  clan 
D)  feedforward 
E)  concurrent

Question 15

Describe what is meant by budgetary controls and how they affect the budget.

Accepted Answer

Budgetary control is one of the most wid

Question 16

While plans are being carried out, ________ control is taking place.

Accepted Answer

A)  feedback 
B)  specialist 
C)  preliminary 
D)  feedforward 
E)  concurrent 
A)  feedback 
B)  specialist 
C)  preliminary 
D)  feedforward 
E)  concurrent

Question 17

________ budget sheet items over time uncovers important trends.

Accepted Answer

A)  Expanding 
B)  Summarizing 
C)  Enlarging 
D)  Condensing 
E)  Merging 
A)  Expanding 
B)  Summarizing 
C)  Enlarging 
D)  Condensing 
E)  Merging

Question 18

Effective managers make sure that activities are going as planned with the help of control.

Accepted Answer

A) True 
 B)False

Question 19

The first step in a typical control system is

Accepted Answer

A)  setting performance standards. 
B)  comparing performance against the standards. 
C)  taking action to correct problems. 
D)  revising standards. 
E)  measuring performance. 
A)  setting performance standards. 
B)  comparing performance against the standards. 
C)  taking action to correct problems. 
D)  revising standards. 
E)  measuring performance.

Question 20

In ________ control, instead of waiting for results and comparing them with goals, a manager or employees can exert control by limiting activities in advance.

Accepted Answer

A)  feedforward 
B)  concurrent 
C)  feedback 
D)  forward 
E)  internal 
A)  feedforward 
B)  concurrent 
C)  feedback 
D)  forward 
E)  internal

Traditionally, boards try to control CEO performance mainly through

A(n) ________ is a report that shows the financial picture of a company at a given time and itemizes assets, liabilities, and stockholders' equity.

Using market control mechanisms is criticized for

________ is the amount accruing to the corporation's owners.

The most effective standards are expressed in ________ terms; they are objective more than subjective.

Control and ________ have been called the Siamese twins of management.

According to Michael Hammer, what are the seven "deadly sins" of performance measure to avoid?

________ ratio is the name of the most common liquidity ratio, current assets to current liabilities.

Market controls use

________ indicate a company's ability to pay short-term debts.

Describe at least four of the different types of budgets that are frequently used.

TriCounty Health is a regional medical center. They tie pricing of services and profits to specific services in the medical center. TriCounty Health uses a ________ control system.

Describe what is meant by budgetary controls and how they affect the budget.

While plans are being carried out, ________ control is taking place.

________ budget sheet items over time uncovers important trends.

Effective managers make sure that activities are going as planned with the help of control.

The first step in a typical control system is

In ________ control, instead of waiting for results and comparing them with goals, a manager or employees can exert control by limiting activities in advance.

Managing in a Global World

The Evolution of Management

The Organizational Environment and Culture

Ethics and Corporate Responsibility

Planning and Decision Making

Entrepreneurship

Organizing for Success

Managing Human Resources

Managing Diversity and Inclusion

Leadership

Motivating People

Teamwork

Communicating

Innovating and Changing

Filters

Exam 14: Managerial Control

Traditionally, boards try to control CEO performance mainly through

A(n) ________ is a report that shows the financial picture of a company at a given time and itemizes assets, liabilities, and stockholders' equity.

Using market control mechanisms is criticized for

________ is the amount accruing to the corporation's owners.

The most effective standards are expressed in ________ terms; they are objective more than subjective.

Control and ________ have been called the Siamese twins of management.

According to Michael Hammer, what are the seven "deadly sins" of performance measure to avoid?

________ ratio is the name of the most common liquidity ratio, current assets to current liabilities.

Market controls use

________ indicate a company's ability to pay short-term debts.

Describe at least four of the different types of budgets that are frequently used.

TriCounty Health is a regional medical center. They tie pricing of services and profits to specific services in the medical center. TriCounty Health uses a ________ control system.

Describe what is meant by budgetary controls and how they affect the budget.

While plans are being carried out, ________ control is taking place.

________ budget sheet items over time uncovers important trends.

Effective managers make sure that activities are going as planned with the help of control.

The first step in a typical control system is

In ________ control, instead of waiting for results and comparing them with goals, a manager or employees can exert control by limiting activities in advance.

Managing in a Global World

The Evolution of Management

The Organizational Environment and Culture

Ethics and Corporate Responsibility

Planning and Decision Making

Entrepreneurship

Organizing for Success

Managing Human Resources

Managing Diversity and Inclusion

Leadership

Motivating People

Teamwork

Communicating

Innovating and Changing

Filters