Question 1

________ detect and correct significant variations, or discrepancies, in the results of plans and activities.

Accepted Answer

A)  Quality standards 
B)  Quantity standards 
C)  Control systems 
D)  Performance systems 
E)  Communication strategies 
A)  Quality standards 
B)  Quantity standards 
C)  Control systems 
D)  Performance systems 
E)  Communication strategies

Question 2

Select a reason why employees resist control systems.

Accepted Answer

A)  Control systems can change the power structure of the organization. 
B)  Control systems make employees less accountable for their performance. 
C)  Control systems decrease the accuracy of performance data. 
D)  Control systems ensure the security of employees. 
E)  Control systems require cooperation between employees. 
A)  Control systems can change the power structure of the organization. 
B)  Control systems make employees less accountable for their performance. 
C)  Control systems decrease the accuracy of performance data. 
D)  Control systems ensure the security of employees. 
E)  Control systems require cooperation between employees.

Question 3

Select the true statement regarding managing in an empowered world.

Accepted Answer

A)  "High-flex" organizations are based on obedience. 
B)  Team performance and adding value to the customer should be emphasized. 
C)  Information must police decision making. 
D)  Close supervision, checks, and balances are recommended. 
E)  Emphasis should be put on managing by numbers. 
A)  "High-flex" organizations are based on obedience. 
B)  Team performance and adding value to the customer should be emphasized. 
C)  Information must police decision making. 
D)  Close supervision, checks, and balances are recommended. 
E)  Emphasis should be put on managing by numbers.

Question 4

"Many of you management trainees do not have formal educations or degrees in accounting or finance. And that is OK," said the corporate trainer. "That's why this training module will cover control by ________, which is most commonly used for the entire enterprise and, in the case of a diversified corporation such as ours, its divisions."

Accepted Answer

A)  profit and loss 
B)  assets 
C)  liabilities 
D)  financial ratios 
E)  expenses 
A)  profit and loss 
B)  assets 
C)  liabilities 
D)  financial ratios 
E)  expenses

Question 5

What are some of the signs that a company lacks controls?

Accepted Answer

Some signs that a company lacks controls

Question 6

What are the reasons people strongly resist control systems?

Accepted Answer

Often people strongly resist control sys

Question 7

Greta is the financial manager at a candy manufacturer. One of her duties is to make a budget that shows the forecasted receipts and expenditures of the company, the amount of working capital available, and the degree to which it should obtain funds from outside of the firm. Greta makes this budget after all other budget estimates have been completed. Greta is working on a ________ budget.

Accepted Answer

A)  master 
B)  cash 
C)  cost 
D)  production 
E)  sales 
A)  master 
B)  cash 
C)  cost 
D)  production 
E)  sales

Question 8

To be effective, control systems must

Accepted Answer

A)  be based on subjective standards. 
B)  communicate needed information upward in the organization. 
C)  be acceptable to top stockholders. 
D)  use multiple approaches. 
E)  centralize decision making. 
A)  be based on subjective standards. 
B)  communicate needed information upward in the organization. 
C)  be acceptable to top stockholders. 
D)  use multiple approaches. 
E)  centralize decision making.

Question 9

Assessing the planning, organizing, leading, and controlling efforts of one's own organization is the essential function of

Accepted Answer

A)  strategic audit. 
B)  feedforward control. 
C)  feedback control. 
D)  external audit. 
E)  internal audit. 
A)  strategic audit. 
B)  feedforward control. 
C)  feedback control. 
D)  external audit. 
E)  internal audit.

Question 10

The ________ ratio indicates the company's ability to meet its long-term financial obligations.

Accepted Answer

A)  profitability 
B)  liquidity 
C)  debt-equity 
D)  current 
E)  net working capital 
A)  profitability 
B)  liquidity 
C)  debt-equity 
D)  current 
E)  net working capital

Question 11

What are the four major steps of the control process?

Accepted Answer

A typical control system has four major

Question 12

"All right, we have budget inputs from all six divisions. I have consolidated all of these inputs into a draft spreadsheet, and I have added other corporate budgets into the spreadsheet" said Jeannine Starks, CFO of LemonTree Products, to her fellow executives. "We need to review this 'budget of budgets' and get back to the division manager with our comments. After they incorporate our comments and submit their revised budget inputs, I will consolidate the division budgets and all other budgets into a ________ budget."

Accepted Answer

A)  master 
B)  sales 
C)  capital 
D)  cost 
E)  maintenance 
A)  master 
B)  sales 
C)  capital 
D)  cost 
E)  maintenance

Question 13

________ motivates people and provides information that enables them to correct their own deviations from performance standards.

Accepted Answer

A)  Strategic window 
B)  Groupthink 
C)  Management myopia 
D)  Feedback 
E)  Provincialism 
A)  Strategic window 
B)  Groupthink 
C)  Management myopia 
D)  Feedback 
E)  Provincialism

Question 14

"In implementing the control process for our new operation, I first established performance standards," said Kelly. "Next, I measured performance. But I'm not sure that my measurement of performance is accurate." His boss replied, "In measuring performance, you can gather performance data from three sources: ________. Furthermore, the data need to be timely."

Accepted Answer

A)  written reports, oral reports, and personal observation 
B)  client satisfaction surveys, oral reports, and personal observation 
C)  written reports, the grapevine, and personal observation 
D)  competitors' performance data, oral reports, and personal observation 
E)  written reports, oral reports, and analysts' statements 
A)  written reports, oral reports, and personal observation 
B)  client satisfaction surveys, oral reports, and personal observation 
C)  written reports, the grapevine, and personal observation 
D)  competitors' performance data, oral reports, and personal observation 
E)  written reports, oral reports, and analysts' statements

Question 15

Describe the three sources from which performance data are commonly obtained.

Accepted Answer

Performance data commonly are obtained f

Question 16

________ involves creating relationships built on mutual respect and encouraging each individual to take responsibility for his or her actions.

Accepted Answer

A)  Empowerment 
B)  Authority control 
C)  Bureaucratic control 
D)  Cultural control 
E)  Clan control 
A)  Empowerment 
B)  Authority control 
C)  Bureaucratic control 
D)  Cultural control 
E)  Clan control

Question 17

The ________ is an itemized financial statement of the income and expenses of a company's operations.

Accepted Answer

A)  balanced scorecard 
B)  current ratio 
C)  return on investment 
D)  balance sheet 
E)  profit and loss statement 
A)  balanced scorecard 
B)  current ratio 
C)  return on investment 
D)  balance sheet 
E)  profit and loss statement

Question 18

When a control system prompts employees to do only tasks required in their formal job descriptions, it causes

Accepted Answer

A)  excessive subordination. 
B)  tactical behaviors. 
C)  rigid bureaucratic behaviors. 
D)  resistance to supervision. 
E)  resistance to change. 
A)  excessive subordination. 
B)  tactical behaviors. 
C)  rigid bureaucratic behaviors. 
D)  resistance to supervision. 
E)  resistance to change.

Question 19

Empowerment is important in organizations today because

Accepted Answer

A)  management has changed. 
B)  employees' jobs have become less challenging. 
C)  employees are more concerned about pay. 
D)  labor unions are growing. 
E)  the role of technology has increased. 
A)  management has changed. 
B)  employees' jobs have become less challenging. 
C)  employees are more concerned about pay. 
D)  labor unions are growing. 
E)  the role of technology has increased.

Question 20

"Listen up," said, Dave Thoreson, dive team leader, as his team finished suiting up. "This is a hazardous dive. We've been properly trained and properly equipped with the necessary gear and tools to rescue the trapped cavers. Stay in physical contact with the divers in front of and behind you. After we complete the rescue, meet me to debrief what we did well and what we can improve." In this case, the proper training and equipment is an example of ________ control.

Accepted Answer

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

________ detect and correct significant variations, or discrepancies, in the results of plans and activities.

Select a reason why employees resist control systems.

Select the true statement regarding managing in an empowered world.

What are some of the signs that a company lacks controls?

What are the reasons people strongly resist control systems?

To be effective, control systems must

Assessing the planning, organizing, leading, and controlling efforts of one's own organization is the essential function of

The ________ ratio indicates the company's ability to meet its long-term financial obligations.

What are the four major steps of the control process?

________ motivates people and provides information that enables them to correct their own deviations from performance standards.

Describe the three sources from which performance data are commonly obtained.

________ involves creating relationships built on mutual respect and encouraging each individual to take responsibility for his or her actions.

The ________ is an itemized financial statement of the income and expenses of a company's operations.

When a control system prompts employees to do only tasks required in their formal job descriptions, it causes

Empowerment is important in organizations today because

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

________ detect and correct significant variations, or discrepancies, in the results of plans and activities.

Select a reason why employees resist control systems.

Select the true statement regarding managing in an empowered world.

What are some of the signs that a company lacks controls?

What are the reasons people strongly resist control systems?

To be effective, control systems must

Assessing the planning, organizing, leading, and controlling efforts of one's own organization is the essential function of

The ________ ratio indicates the company's ability to meet its long-term financial obligations.

What are the four major steps of the control process?

________ motivates people and provides information that enables them to correct their own deviations from performance standards.

Describe the three sources from which performance data are commonly obtained.

________ involves creating relationships built on mutual respect and encouraging each individual to take responsibility for his or her actions.

The ________ is an itemized financial statement of the income and expenses of a company's operations.

When a control system prompts employees to do only tasks required in their formal job descriptions, it causes

Empowerment is important in organizations today because

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