Question 1

Which of the following is not a measure that relates to the financial perspective?

Accepted Answer

A) EVA 
B) Return on investment 
C) Cost per unit 
D) Profit margin 
A) EVA 
B) Return on investment 
C) Cost per unit 
D) Profit margin

Question 2

Lagging indicators can be used to predict future results.

Accepted Answer

A) True 
 B)False

Question 3

A lagging indicator "lags" the time period when a performance is measured.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following are examples of a fifth perspective that some organizations may want to add to their balanced scorecard?

Accepted Answer

A) Supplier relations and community involvement 
B) Community involvement and employee morale 
C) Environmental impact and employee morale 
D) Profitability and supplier relations 
A) Supplier relations and community involvement 
B) Community involvement and employee morale 
C) Environmental impact and employee morale 
D) Profitability and supplier relations

Question 5

The learning and growth perspective answers the question, "Are we improving our business processes in order to deliver maximum value to our customers."

Accepted Answer

A) True 
 B)False

Question 6

Which of the following is not an example of an internal operating nonfinancial measure?

Accepted Answer

A) Labor productivity 
B) Product defects 
C) Product flexibility 
D) Setup efficiency 
A) Labor productivity 
B) Product defects 
C) Product flexibility 
D) Setup efficiency

Question 7

The ratio of value-added processing time to total manufacturing cycle time is referred to as

Accepted Answer

A) manufacturing cycle efficiency. 
B) manufacturing cycle ratio. 
C) throughput efficiency. 
D) the delivery cycle ratio. 
A) manufacturing cycle efficiency. 
B) manufacturing cycle ratio. 
C) throughput efficiency. 
D) the delivery cycle ratio.

Question 8

Which of the following is a fifth perspective that some organizations add to the balanced scorecard?

Accepted Answer

A) An additional area that the company expects to expand into at a later date 
B) An additional one that highlights areas of strategic importance 
C) Corporate accountability 
D) Safety and environmental concerns 
A) An additional area that the company expects to expand into at a later date 
B) An additional one that highlights areas of strategic importance 
C) Corporate accountability 
D) Safety and environmental concerns

Question 9

Which of the following is not an example of a lagging indicator?

Accepted Answer

A) Earnings per share 
B) Grade point average 
C) Number of customer complaints 
D) Cost of goods sold 
A) Earnings per share 
B) Grade point average 
C) Number of customer complaints 
D) Cost of goods sold

Question 10

Measures that help predict a future result are referred to as

Accepted Answer

A) lagging indicators. 
B) earnings per share. 
C) leading indicators. 
D) EVA. 
A) lagging indicators. 
B) earnings per share. 
C) leading indicators. 
D) EVA.

Question 11

When customers consider making purchases, which of the following is not an expectation they have?

Accepted Answer

A) Price 
B) Delivery speed 
C) High profit margin for supplier 
D) Quality 
A) Price 
B) Delivery speed 
C) High profit margin for supplier 
D) Quality

Question 12

Which of the following is not a measure that relates to the learning and growth perspective?

Accepted Answer

A) Percentage of vacancies filled with internal candidates 
B) Product return rate 
C) Technology spending per employee 
D) Suggestions generated by employees 
A) Percentage of vacancies filled with internal candidates 
B) Product return rate 
C) Technology spending per employee 
D) Suggestions generated by employees

Question 13

Because the organization's vision and strategy lie at the heart of the balanced scorecard, the first step in developing the scorecard is to clarify the strategic focus.As part of this process, organizations may develop a strategy map.
Required:
a.What is a strategy map?
b.Discuss the process of building a balance scorecard.

Accepted Answer

a.A strategy map is a pictorial represen

Question 14

Measures that can be determined only after something is finished are called lagging indicators.

Accepted Answer

A) True 
 B)False

Question 15

On January 4th, Stevens Manufacturing received an order for 30 uniforms.The following information pertained to that order.   Calculate the manufacturing cycle efficiency.

Accepted Answer

A) 70% 
B) 60% 
C) 69% 
D) 10% 
A) 70% 
B) 60% 
C) 69% 
D) 10%

Question 16

For processes that are not identical, companies cannot benefit from benchmarking outside their industry.

Accepted Answer

A) True 
 B)False

Question 17

Identifying whether a measure is a leading or lagging indicator can be difficult, because a lagging indicator of one event can be a leading indicator of another.

Accepted Answer

A) True 
 B)False

Question 18

A measure is relevant if

Accepted Answer

A) It is complete and accurate. 
B) It is clearly and directly related to the process it measures. 
C) It relates to a corporate strategic objective. 
D) something can be done to influence its value. 
A) It is complete and accurate. 
B) It is clearly and directly related to the process it measures. 
C) It relates to a corporate strategic objective. 
D) something can be done to influence its value.

Question 19

What length of time does the Balanced Scorecard Institute estimate it takes to create a corporate-level scorecard?

Accepted Answer

A) Two to three weeks 
B) Two to three months 
C) Two to three years 
D) More than five years 
A) Two to three weeks 
B) Two to three months 
C) Two to three years 
D) More than five years

Question 20

Which of the following is not a reason companies use key performance indicators?

Accepted Answer

A) To align business activity with corporate strategy 
B) To improve company performance 
C) To improve timeliness of business decisions 
D) To measure production efficiency in the past few months 
A) To align business activity with corporate strategy 
B) To improve company performance 
C) To improve timeliness of business decisions 
D) To measure production efficiency in the past few months

Which of the following is not a measure that relates to the financial perspective?

Lagging indicators can be used to predict future results.

A lagging indicator "lags" the time period when a performance is measured.

Which of the following are examples of a fifth perspective that some organizations may want to add to their balanced scorecard?

The learning and growth perspective answers the question, "Are we improving our business processes in order to deliver maximum value to our customers."

Which of the following is not an example of an internal operating nonfinancial measure?

The ratio of value-added processing time to total manufacturing cycle time is referred to as

Which of the following is a fifth perspective that some organizations add to the balanced scorecard?

Which of the following is not an example of a lagging indicator?

Measures that help predict a future result are referred to as

When customers consider making purchases, which of the following is not an expectation they have?

Which of the following is not a measure that relates to the learning and growth perspective?

Measures that can be determined only after something is finished are called lagging indicators.

On January 4th, Stevens Manufacturing received an order for 30 uniforms.The following information pertained to that order. Calculate the manufacturing cycle efficiency.

For processes that are not identical, companies cannot benefit from benchmarking outside their industry.

Identifying whether a measure is a leading or lagging indicator can be difficult, because a lagging indicator of one event can be a leading indicator of another.

A measure is relevant if

What length of time does the Balanced Scorecard Institute estimate it takes to create a corporate-level scorecard?

Which of the following is not a reason companies use key performance indicators?

Accounting As a Tool for Management

Cost Behavior and Cost Estimation

Costvolumeprofit Analysis and Pricing Decisions

Product Costs and Job Order Costing

Planning and Forecasting in a Manufacturing Setting

Performance Evaluation: Variance Analysis

Activity-Based Costing and Activity-Based Management

Using Accounting Information to Make Managerial Decisions

Using Accounting Information to Make Managerial Decisions

Capital Budgeting

Performance Evaluation Revisited: a Balanced Approach

Financial Statement Analysis

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Exam 11: Decentralization and Performance Evaluation

Which of the following is not a measure that relates to the financial perspective?

Lagging indicators can be used to predict future results.

A lagging indicator "lags" the time period when a performance is measured.

Which of the following are examples of a fifth perspective that some organizations may want to add to their balanced scorecard?

The learning and growth perspective answers the question, "Are we improving our business processes in order to deliver maximum value to our customers."

Which of the following is not an example of an internal operating nonfinancial measure?

The ratio of value-added processing time to total manufacturing cycle time is referred to as

Which of the following is a fifth perspective that some organizations add to the balanced scorecard?

Which of the following is not an example of a lagging indicator?

Measures that help predict a future result are referred to as

When customers consider making purchases, which of the following is not an expectation they have?

Which of the following is not a measure that relates to the learning and growth perspective?

Measures that can be determined only after something is finished are called lagging indicators.

On January 4th, Stevens Manufacturing received an order for 30 uniforms.The following information pertained to that order. Calculate the manufacturing cycle efficiency.

For processes that are not identical, companies cannot benefit from benchmarking outside their industry.

Identifying whether a measure is a leading or lagging indicator can be difficult, because a lagging indicator of one event can be a leading indicator of another.

A measure is relevant if

What length of time does the Balanced Scorecard Institute estimate it takes to create a corporate-level scorecard?

Which of the following is not a reason companies use key performance indicators?

Accounting As a Tool for Management

Cost Behavior and Cost Estimation

Costvolumeprofit Analysis and Pricing Decisions

Product Costs and Job Order Costing

Planning and Forecasting in a Manufacturing Setting

Performance Evaluation: Variance Analysis

Activity-Based Costing and Activity-Based Management

Using Accounting Information to Make Managerial Decisions

Using Accounting Information to Make Managerial Decisions

Capital Budgeting

Performance Evaluation Revisited: a Balanced Approach

Financial Statement Analysis

Filters