Question 1

The balanced scorecard approach has been criticised for not capturing core values related to:

Accepted Answer

A)  Customer satisfaction 
B)  Shareholder returns 
C)  Relations with regulators or approaches to the environment 
D)  Employee attitudes 
A)  Customer satisfaction 
B)  Shareholder returns 
C)  Relations with regulators or approaches to the environment 
D)  Employee attitudes C

Question 2

Common biases associated with balanced scorecard projects include: I $\text {Resistarice to charige from individuals}$
II $\text {The balanced scorecard process beirig viewed as a terrporary fad}$
III $\text {Periodic performarice reviews}$

Accepted Answer

A)  I and III only 
B)  II and III only 
C)  I and II only 
D)  I, II, and III 
A)  I and III only 
B)  II and III only 
C)  I and II only 
D)  I, II, and III C

Question 3

Analysis of the gaps between actual operations and performance objectives can be used to: $\begin{array}{llcc}
 \text { I } &    \text { Corrpernate errployees} \
 \text { II } & \text {Prepare finaricial statements } \
 \text { III } & \text {Improve future strategies }\
\end{array}$

Accepted Answer

A)  I and III only 
B)  II and III only 
C)  I and II only 
D)  I, II, and III 
A)  I and III only 
B)  II and III only 
C)  I and II only 
D)  I, II, and III A

Question 4

Australia and New Zealand Banking Group Limited (ANZ) is the fourth largest commercial bank in Australia. ANZ assets total $46.1 billion, loans of $26 billion, and total deposits of $35.5 billion. It provides online, telephone, and traditional banking and investment services to both individuals and businesses in Australia. ANZ's mission is to create an exceptional customer experience internationally by providing solutions through leading technologies, offering a wide selection of financial products and services, and leveraging experience to meet customers' needs. "Percent change in dollars spent on information technology" is most likely used in which balanced scorecard perspective?

Accepted Answer

A)  Financial 
B)  Customer 
C)  Information technology 
D)  Internal business process 
A)  Financial 
B)  Customer 
C)  Information technology 
D)  Internal business process

Question 5

Which of the following measures would be least likely to be included in a balanced scorecard's financial perspective?

Accepted Answer

A)  Percent of sales from return customers 
B)  Average revenue per customer 
C)  Customer satisfaction rating 
D)  Increase in sales by geographic region 
A)  Percent of sales from return customers 
B)  Average revenue per customer 
C)  Customer satisfaction rating 
D)  Increase in sales by geographic region

Question 6

Which of the following statements about performance evaluation is true?

Accepted Answer

A)  Financial measures are less useful than non-financial measures because they are biased 
B)  A combination of financial and non-financial measures gives a more useful picture of organisational performance than either one alone 
C)  Non-financial measures are less useful than financial measures because they are not as objective 
D)  Only one or two non-financial performance measures should be used 
A)  Financial measures are less useful than non-financial measures because they are biased 
B)  A combination of financial and non-financial measures gives a more useful picture of organisational performance than either one alone 
C)  Non-financial measures are less useful than financial measures because they are not as objective 
D)  Only one or two non-financial performance measures should be used

Question 7

In implementing a balanced scorecard, managers should establish performance targets after analysing the first set of scorecard data.

Accepted Answer

A) True 
 B)False

Question 8

The internal business process perspective in a balanced scorecard concentrates principally on employees.

Accepted Answer

A) True 
 B)False

Question 9

The balanced scorecard's financial perspective is focused primarily on measures of economic and accounting profits.

Accepted Answer

A) True 
 B)False

Question 10

Australia and New Zealand Banking Group Limited (ANZ) is the fourth largest commercial bank in Australia. ANZ assets total $46.1 billion, loans of $26 billion, and total deposits of $35.5 billion. It provides online, telephone, and traditional banking and investment services to both individuals and businesses in Australia. ANZ's mission is to create an exceptional customer experience internationally by providing solutions through leading technologies, offering a wide selection of financial products and services, and leveraging experience to meet customers' needs. All of the following measures could be included in a balanced scorecard for ANZ. Which is the most subjective?

Accepted Answer

A)  Employee turnover 
B)  Leadership competence 
C)  Revenue growth 
D)  Quality improvement costs incurred 
A)  Employee turnover 
B)  Leadership competence 
C)  Revenue growth 
D)  Quality improvement costs incurred

Question 11

Which of the following measures would be least likely to be included in a balanced scorecard's internal business process perspective?

Accepted Answer

A)  Customer satisfaction rating 
B)  Percent capacity utilisation 
C)  Percent change in throughput time 
D)  Average waiting time per customer 
A)  Customer satisfaction rating 
B)  Percent capacity utilisation 
C)  Percent change in throughput time 
D)  Average waiting time per customer

Question 12

Which of the following measures would be least likely to be included in a balanced scorecard's learning and growth perspective?

Accepted Answer

A)  Average training cost per employee 
B)  Percent of revenue from new products 
C)  Number of patent applications for new products 
D)  Rank in customer surveys 
A)  Average training cost per employee 
B)  Percent of revenue from new products 
C)  Number of patent applications for new products 
D)  Rank in customer surveys

Question 13

Which of the following are inputs to the development of organisational strategy?

Accepted Answer

A)  Operating plans and core competencies 
B)  Actual operations and operating plans 
C)  Organisational vision and operating plans 
D)  Organisational vision and core competencies 
A)  Operating plans and core competencies 
B)  Actual operations and operating plans 
C)  Organisational vision and operating plans 
D)  Organisational vision and core competencies

Question 14

The balanced scorecard's perspectives:

Accepted Answer

A)  Are not linked in any meaningful way 
B)  Are a relatively unimportant part of the scorecard 
C)  Are linked through careful managerial analysis 
D)  Are exclusively focused on internal measures in not-for-profit organisations 
A)  Are not linked in any meaningful way 
B)  Are a relatively unimportant part of the scorecard 
C)  Are linked through careful managerial analysis 
D)  Are exclusively focused on internal measures in not-for-profit organisations

Question 15

Which of the following is a synonym for an organisation's vision?

Accepted Answer

A)  Core competencies 
B)  Organisational strategies 
C)  Purpose and ideology 
D)  Operating plans 
A)  Core competencies 
B)  Organisational strategies 
C)  Purpose and ideology 
D)  Operating plans

Question 16

The first step in implementing a balanced scorecard is developing measures for each of the perspectives.

Accepted Answer

A) True 
 B)False

Question 17

Balanced scorecards, when properly implemented, can guide managers in making more effective decisions.

Accepted Answer

A) True 
 B)False

Question 18

Which of the measures below would be most likely to be found in the customer perspective of the balanced scorecard?

Accepted Answer

A)  Training days per employee 
B)  Residual income 
C)  Change in market share 
D)  Percent capacity utilisation 
A)  Training days per employee 
B)  Residual income 
C)  Change in market share 
D)  Percent capacity utilisation

Question 19

The steps for implementing a balanced scorecard:

Accepted Answer

A)  Should be customised for individual organisations. 
B)  Should not vary if the implementation is to be effective. 
C)  Are different in for-profit and not-for-profit organisations. 
D)  Begin with developing measures in each perspective. 
A)  Should be customised for individual organisations. 
B)  Should not vary if the implementation is to be effective. 
C)  Are different in for-profit and not-for-profit organisations. 
D)  Begin with developing measures in each perspective.

Question 20

The measures in a balanced scorecard are guided by:

Accepted Answer

A)  Budget plans 
B)  Shareholders 
C)  Vision and strategy 
D)  The board of directors 
A)  Budget plans 
B)  Shareholders 
C)  Vision and strategy 
D)  The board of directors

The balanced scorecard approach has been criticised for not capturing core values related to:

Common biases associated with balanced scorecard projects include: I $\text {Resistarice to charige from individuals}$ II $\text {The balanced scorecard process beirig viewed as a terrporary fad}$ III $\text {Periodic performarice reviews}$

Analysis of the gaps between actual operations and performance objectives can be used to: I Corrpernate errployees II Prepare finaricial statements III Improve future strategies

Which of the following measures would be least likely to be included in a balanced scorecard's financial perspective?

Which of the following statements about performance evaluation is true?

In implementing a balanced scorecard, managers should establish performance targets after analysing the first set of scorecard data.

The internal business process perspective in a balanced scorecard concentrates principally on employees.

The balanced scorecard's financial perspective is focused primarily on measures of economic and accounting profits.

Which of the following measures would be least likely to be included in a balanced scorecard's internal business process perspective?

Which of the following measures would be least likely to be included in a balanced scorecard's learning and growth perspective?

Which of the following are inputs to the development of organisational strategy?

The balanced scorecard's perspectives:

Which of the following is a synonym for an organisation's vision?

The first step in implementing a balanced scorecard is developing measures for each of the perspectives.

Balanced scorecards, when properly implemented, can guide managers in making more effective decisions.

Which of the measures below would be most likely to be found in the customer perspective of the balanced scorecard?

The steps for implementing a balanced scorecard:

The measures in a balanced scorecard are guided by:

The Role of Accounting Information in Management Decision Making

Cost Concepts, Behaviour and Estimation

A Costing Framework and Cost Allocation

Costvolumeprofit Cvp Analysis

Planning Budgeting and Behaviour

Operational Budgets

Job and Process Costing Systems

Flexible Budgets, Standard Costs and Variance Analysis

Variance Analysis: Revenue and Cost

Activity Analysis: Costing and Management

Relevant Costs for Decision Making

Strategy and Control

Capital Budgeting and Strategic Investment Decisions

The Strategic Management of Costs and Revenues

Strategic Management Control: a Lean Perspective

Responsibility Accounting, Performance Evaluation and Transfer Pricing

Rewards, Incentives and Risk Management

Sustainability Management Accounting

Filters

Exam 17: The Balanced Scorecard and Strategy Maps

The balanced scorecard approach has been criticised for not capturing core values related to:

Analysis of the gaps between actual operations and performance objectives can be used to: I Corrpernate errployees II Prepare finaricial statements III Improve future strategies

Which of the following measures would be least likely to be included in a balanced scorecard's financial perspective?

Which of the following statements about performance evaluation is true?

In implementing a balanced scorecard, managers should establish performance targets after analysing the first set of scorecard data.

The internal business process perspective in a balanced scorecard concentrates principally on employees.

The balanced scorecard's financial perspective is focused primarily on measures of economic and accounting profits.

Which of the following measures would be least likely to be included in a balanced scorecard's internal business process perspective?

Which of the following measures would be least likely to be included in a balanced scorecard's learning and growth perspective?

Which of the following are inputs to the development of organisational strategy?

The balanced scorecard's perspectives:

Which of the following is a synonym for an organisation's vision?

The first step in implementing a balanced scorecard is developing measures for each of the perspectives.

Balanced scorecards, when properly implemented, can guide managers in making more effective decisions.

Which of the measures below would be most likely to be found in the customer perspective of the balanced scorecard?

The steps for implementing a balanced scorecard:

The measures in a balanced scorecard are guided by:

The Role of Accounting Information in Management Decision Making

Cost Concepts, Behaviour and Estimation

A Costing Framework and Cost Allocation

Costvolumeprofit Cvp Analysis

Planning Budgeting and Behaviour

Operational Budgets

Job and Process Costing Systems

Flexible Budgets, Standard Costs and Variance Analysis

Variance Analysis: Revenue and Cost

Activity Analysis: Costing and Management

Relevant Costs for Decision Making

Strategy and Control

Capital Budgeting and Strategic Investment Decisions

The Strategic Management of Costs and Revenues

Strategic Management Control: a Lean Perspective

Responsibility Accounting, Performance Evaluation and Transfer Pricing

Rewards, Incentives and Risk Management

Sustainability Management Accounting

Filters