Question 1

Financial measures used for organizational evaluation can pertain to I. Divisions
II. Product lines
III. Departments

Accepted Answer

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

Question 2

The internal business process perspective in a balanced scorecard is often broken down into its value chain components. Those components include all of the following except the

Accepted Answer

A)  Innovation cycle 
B)  Operations cycle 
C)  Post-sales service cycle 
D)  Budget cycle 
A)  Innovation cycle 
B)  Operations cycle 
C)  Post-sales service cycle 
D)  Budget cycle D

Question 3

The perspectives in a balanced scorecard

Accepted Answer

A)  Can be adapted to an individual organization's priorities 
B)  Cannot be changed because of copyright restrictions 
C)  Include qualitative and quantitative 
D)  Are externally focused only in for-profit organizations 
A)  Can be adapted to an individual organization's priorities 
B)  Cannot be changed because of copyright restrictions 
C)  Include qualitative and quantitative 
D)  Are externally focused only in for-profit organizations A

Question 4

Managers have traditionally relied on which of the following measures to evaluate performance?

Accepted Answer

A)  Qualitative factors 
B)  Financial measures 
C)  Nonfinancial measures 
D)  Core competencies 
A)  Qualitative factors 
B)  Financial measures 
C)  Nonfinancial measures 
D)  Core competencies

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

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

Accepted Answer

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

Question 7

The steps and cycles in the value chain are most closely associated with which balanced scorecard perspective?

Accepted Answer

A)  Financial 
B)  Customer 
C)  Internal business process 
D)  Learning and growth 
A)  Financial 
B)  Customer 
C)  Internal business process 
D)  Learning and growth

Question 8

FPM Corporation's strategic plan includes the following statement: "We deliver high-quality and timely service to our internal and external customers." That statement is best described as a(n)

Accepted Answer

A)  Mission statement 
B)  Specific performance objective 
C)  Operating plan 
D)  Strategy 
A)  Mission statement 
B)  Specific performance objective 
C)  Operating plan 
D)  Strategy

Question 9

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

Accepted Answer

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

Question 10

The balanced scorecard's perspectives

Accepted Answer

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

Question 11

The balanced scorecard approach to performance evaluation I. Is less time consuming and expensive than other approaches
II. Helps managers integrate strategies across divisions and functions
III. Assists managers in predicting possible future problems

Accepted Answer

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

Question 12

The purpose of a balanced scorecard is to translate organizational vision and strategies into performance objectives that can be monitored over time.

Accepted Answer

A) True 
 B)False

Question 13

An organizational vision is concerned with creating value for stakeholders, including I. The community and society
II. Employees and suppliers
III. Customers and owners

Accepted Answer

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

Question 14

Nonfinancial measures include I. Cost variances
II. Defect rates
III. Customer satisfaction surveys

Accepted Answer

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

Question 15

A balanced scorecard often contains four perspectives: customer, financial, internal business process, and learning and growth.

Accepted Answer

A) True 
 B)False

Question 16

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

Accepted Answer

A) True 
 B)False

Question 17

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

Accepted Answer

A) True 
 B)False

Question 18

Successful organizations communicate their vision, strategies, goals, and objectives to upper-level employees.

Accepted Answer

A) True 
 B)False

Question 19

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

Accepted Answer

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

Question 20

Which of the following measures would most likely be found in the internal business process perspective of the balanced scorecard?

Accepted Answer

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

Financial measures used for organizational evaluation can pertain to I. Divisions II. Product lines III. Departments

The internal business process perspective in a balanced scorecard is often broken down into its value chain components. Those components include all of the following except the

The perspectives in a balanced scorecard

Managers have traditionally relied on which of the following measures to evaluate performance?

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

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

The steps and cycles in the value chain are most closely associated with which balanced scorecard perspective?

FPM Corporation's strategic plan includes the following statement: "We deliver high-quality and timely service to our internal and external customers." That statement is best described as a(n)

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

The balanced scorecard's perspectives

The balanced scorecard approach to performance evaluation I. Is less time consuming and expensive than other approaches II. Helps managers integrate strategies across divisions and functions III. Assists managers in predicting possible future problems

The purpose of a balanced scorecard is to translate organizational vision and strategies into performance objectives that can be monitored over time.

An organizational vision is concerned with creating value for stakeholders, including I. The community and society II. Employees and suppliers III. Customers and owners

Nonfinancial measures include I. Cost variances II. Defect rates III. Customer satisfaction surveys

A balanced scorecard often contains four perspectives: customer, financial, internal business process, and learning and growth.

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

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

Successful organizations communicate their vision, strategies, goals, and objectives to upper-level employees.

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

Which of the following measures would most likely be found in the internal business process perspective of the balanced scorecard?

The Role of Accounting Information in Management Decision Making

The Cost Function

Cost-Volume-Profit Analysis

Relevant Costs for Nonroutine Operating Decision

Job Costing

Process Costing

Activity-Based Costing and Management

Measuring and Assigning Support Department Costs

Joint Product and By-Product Costing

Static and Flexible Budgets

Standard Costs and Variance Analysis

Strategic Investment Decisions

Joint Management of Revenues and Costs

Measuring and Assigning Costs for Income Statements

Performance Evaluation and Compensation

Sustainability Accounting

Filters

Exam 16: Strategic Performance Measurement

Financial measures used for organizational evaluation can pertain to I. Divisions II. Product lines III. Departments

The internal business process perspective in a balanced scorecard is often broken down into its value chain components. Those components include all of the following except the

The perspectives in a balanced scorecard

Managers have traditionally relied on which of the following measures to evaluate performance?

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

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

The steps and cycles in the value chain are most closely associated with which balanced scorecard perspective?

FPM Corporation's strategic plan includes the following statement: "We deliver high-quality and timely service to our internal and external customers." That statement is best described as a(n)

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

The balanced scorecard's perspectives

The balanced scorecard approach to performance evaluation I. Is less time consuming and expensive than other approaches II. Helps managers integrate strategies across divisions and functions III. Assists managers in predicting possible future problems

The purpose of a balanced scorecard is to translate organizational vision and strategies into performance objectives that can be monitored over time.

An organizational vision is concerned with creating value for stakeholders, including I. The community and society II. Employees and suppliers III. Customers and owners

Nonfinancial measures include I. Cost variances II. Defect rates III. Customer satisfaction surveys

A balanced scorecard often contains four perspectives: customer, financial, internal business process, and learning and growth.

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

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

Successful organizations communicate their vision, strategies, goals, and objectives to upper-level employees.

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

Which of the following measures would most likely be found in the internal business process perspective of the balanced scorecard?

The Role of Accounting Information in Management Decision Making

The Cost Function

Cost-Volume-Profit Analysis

Relevant Costs for Nonroutine Operating Decision

Job Costing

Process Costing

Activity-Based Costing and Management

Measuring and Assigning Support Department Costs

Joint Product and By-Product Costing

Static and Flexible Budgets

Standard Costs and Variance Analysis

Strategic Investment Decisions

Joint Management of Revenues and Costs

Measuring and Assigning Costs for Income Statements

Performance Evaluation and Compensation

Sustainability Accounting

Filters