Question 1

Which of the following is not a measure that relates to the internal business processes perspective?

Accepted Answer

A) Percentage of on-time deliveries 
B) Response time to customer request 
C) Delivery cycle time 
D) Product return rate 
A) Percentage of on-time deliveries 
B) Response time to customer request 
C) Delivery cycle time 
D) Product return rate

Question 2

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

Accepted Answer

A) Net income per employee 
B) Revenue per employee 
C) Training dollars spent per employee 
D) Suggestions generated by employees 
A) Net income per employee 
B) Revenue per employee 
C) Training dollars spent per employee 
D) Suggestions generated by employees

Question 3

Qualitative indicators

Accepted Answer

A) tend to be based on feelings and perceptions. 
B) tend to be based on perceptions and are non-financial amounts. 
C) rely upon accounting records. 
D) are also referred to as non-financial. 
A) tend to be based on feelings and perceptions. 
B) tend to be based on perceptions and are non-financial amounts. 
C) rely upon accounting records. 
D) are also referred to as non-financial.

Question 4

The practice of using data from other organizations to identify the processes and practices associated with world-class performance is referred to as

Accepted Answer

A) benchmarking. 
B) dashboarding. 
C) industry flowcharting. 
D) scorecarding. 
A) benchmarking. 
B) dashboarding. 
C) industry flowcharting. 
D) scorecarding.

Question 5

If a public utility company wanted to benchmark ways to protect its underground electrical cables, which of the following companies should it not contact?

Accepted Answer

A) Telephone company 
B) Wi-Fi company 
C) Another public utility company 
D) Cable television company 
A) Telephone company 
B) Wi-Fi company 
C) Another public utility company 
D) Cable television company

Question 6

To be of any value, a measure of performance must be measurable, meaning that it is complete and accurate, and is based on actual results rather than on estimates.

Accepted Answer

A) True 
 B)False

Question 7

Community Hospital is reassessing their performance measures.The hospital accounting administrator has asked supervisors to submit items they believe should be used in evaluating performance related to their individual departments.The supervisors have submitted a number of suggestions.Indicate by placing an "X" in the appropriate column whether the following measures are leading or lagging and qualitative or quantitative.Each item may classify as more than one measure.

Accepted Answer

The answer of Community Hospital is reassessing their performance measures.The...

Question 8

Benchmarking is appropriate only within a company's industry.

Accepted Answer

A) True 
 B)False

Question 9

When using the balanced scorecard to monitor performance, which of the following perspectives is the foundation for improvement in all other areas?

Accepted Answer

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

Question 10

Which of the following is not one of the four balanced scorecard perspectives?

Accepted Answer

A) Learning and growth 
B) Production 
C) Customer 
D) Financial 
A) Learning and growth 
B) Production 
C) Customer 
D) Financial

Question 11

Which of the following not a qualitative measure that McDonald's may use?

Accepted Answer

A) Accidents per month 
B) Customer retention 
C) Current ratio 
D) Number of orders filled incorrectly 
A) Accidents per month 
B) Customer retention 
C) Current ratio 
D) Number of orders filled incorrectly

Question 12

A performance measure is specific if it

Accepted Answer

A) measures only one activity. 
B) relates clearly and directly to the process it measures. 
C) is either qualitative or nonfinancial, but not both. 
D) is complete and accurate. 
A) measures only one activity. 
B) relates clearly and directly to the process it measures. 
C) is either qualitative or nonfinancial, but not both. 
D) is complete and accurate.

Question 13

Lights Out Motel is owned and operated by your mother's neighbor.The motel manager knows you are taking an accounting class and has asked you to help develop a balanced scorecard for her.To stay competitive with larger chain motels, Lights Out needs to find a way to advertise the amenities offered that larger chains may not have, such as garden views from every window, fresh flowers in every room, and home cooked meals.
Required:
Identify two measures for each of the four balanced scorecard perspectives that will help Lights Out achieve its strategy.

Accepted Answer

Answers will vary.
L

Question 14

Which of the following is a measure that relates to the customer perspective?

Accepted Answer

A) Time to market 
B) Market share 
C) Revenue growth 
D) Defect rate 
A) Time to market 
B) Market share 
C) Revenue growth 
D) Defect rate

Question 15

The balanced scorecard is a system that forces managers to consider how different parts of their company affect one another.

Accepted Answer

A) True 
 B)False

Question 16

Delivery cycle time is the difference between

Accepted Answer

A) the start of production of a product and its delivery. 
B) the start of production of a product and its shipment. 
C) an order's placement and its delivery. 
D) an order's placement and its shipment. 
A) the start of production of a product and its delivery. 
B) the start of production of a product and its shipment. 
C) an order's placement and its delivery. 
D) an order's placement and its shipment.

Question 17

Summer Time Sports operates an ocean side rental stand for motorcycles, bicycles, and small watercraft along with umbrellas, chairs, toys and rubber rafts.Because several other stands are in the area, it is important for Summer Time to remain competitive.Summer Time must generate enough cash revenue during the summer to carry it through the slower winter months.
Required:
Identify two measures for each of the four balanced scorecard perspectives that will help Summer Time to achieve its strategy.

Accepted Answer

Answers will vary.
L

Question 18

The best measures relate to corporate Strategy and SMART.Which of the following is not a component of SMART?

Accepted Answer

A) Measurable 
B) Timeliness 
C) Actionable 
D) Responsibility 
A) Measurable 
B) Timeliness 
C) Actionable 
D) Responsibility

Question 19

Which of the following is not one of the four balanced scorecard perspectives?

Accepted Answer

A) Internal business processes 
B) Customer 
C) Industry 
D) Financial 
A) Internal business processes 
B) Customer 
C) Industry 
D) Financial

Question 20

Benchmarking is not about trying to achieve another company's metrics, but about

Accepted Answer

A) maintaining internal processes and customer relations to stay competitive with other companies in the industry. 
B) replicating the successful practices that lead to their outstanding metrics. 
C) trying to outperform the other company in its best practices areas. 
D) outdoing the other company in profit and reputation. 
A) maintaining internal processes and customer relations to stay competitive with other companies in the industry. 
B) replicating the successful practices that lead to their outstanding metrics. 
C) trying to outperform the other company in its best practices areas. 
D) outdoing the other company in profit and reputation.

Which of the following is not a measure that relates to the internal business processes perspective?

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

Qualitative indicators

The practice of using data from other organizations to identify the processes and practices associated with world-class performance is referred to as

If a public utility company wanted to benchmark ways to protect its underground electrical cables, which of the following companies should it not contact?

To be of any value, a measure of performance must be measurable, meaning that it is complete and accurate, and is based on actual results rather than on estimates.

Benchmarking is appropriate only within a company's industry.

When using the balanced scorecard to monitor performance, which of the following perspectives is the foundation for improvement in all other areas?

Which of the following is not one of the four balanced scorecard perspectives?

Which of the following not a qualitative measure that McDonald's may use?

A performance measure is specific if it

Which of the following is a measure that relates to the customer perspective?

The balanced scorecard is a system that forces managers to consider how different parts of their company affect one another.

Delivery cycle time is the difference between

The best measures relate to corporate Strategy and SMART.Which of the following is not a component of SMART?

Which of the following is not one of the four balanced scorecard perspectives?

Benchmarking is not about trying to achieve another company's metrics, but about

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

Exam 11: Decentralization and Performance Evaluation

Which of the following is not a measure that relates to the internal business processes perspective?

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

Qualitative indicators

The practice of using data from other organizations to identify the processes and practices associated with world-class performance is referred to as

If a public utility company wanted to benchmark ways to protect its underground electrical cables, which of the following companies should it not contact?

To be of any value, a measure of performance must be measurable, meaning that it is complete and accurate, and is based on actual results rather than on estimates.

Benchmarking is appropriate only within a company's industry.

When using the balanced scorecard to monitor performance, which of the following perspectives is the foundation for improvement in all other areas?

Which of the following is not one of the four balanced scorecard perspectives?

Which of the following not a qualitative measure that McDonald's may use?

A performance measure is specific if it

Which of the following is a measure that relates to the customer perspective?

The balanced scorecard is a system that forces managers to consider how different parts of their company affect one another.

Delivery cycle time is the difference between

The best measures relate to corporate Strategy and SMART.Which of the following is not a component of SMART?

Which of the following is not one of the four balanced scorecard perspectives?

Benchmarking is not about trying to achieve another company's metrics, but about

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