Question 1

As goals are set during the  ____________________ process, attention should be paid to developing standards that will reflect how well the plan is realized.

Accepted Answer

planning

Question 2

Which of the following is NOT characteristic of decentralized control?

Accepted Answer

A)  Rewards focused on individual performance 
B)  Employee commitment 
C)  Widespread employee participation 
D)  Informal and organic structural arrangements 
E)  Employee self-control 
A)  Rewards focused on individual performance 
B)  Employee commitment 
C)  Widespread employee participation 
D)  Informal and organic structural arrangements 
E)  Employee self-control A

Question 3

Which of the following statements does NOT describe a weakness associated with budgeting?

Accepted Answer

A)  Some managers apply budgets too rigidly. 
B)  Developing budgets can be very time consuming. 
C)  Budgets link planning and controlling. 
D)  Budgets may limit innovation and change. 
E)  Budgets may make it impossible to procure funds to take advantage of an unexpected opportunity. 
A)  Some managers apply budgets too rigidly. 
B)  Developing budgets can be very time consuming. 
C)  Budgets link planning and controlling. 
D)  Budgets may limit innovation and change. 
E)  Budgets may make it impossible to procure funds to take advantage of an unexpected opportunity. C

Question 4

Which of the following is NOT a type of financial budget?

Accepted Answer

A)  Cash-flow 
B)  Capital expenditure 
C)  Balance sheet 
D)  Cash 
E)  Profit 
A)  Cash-flow 
B)  Capital expenditure 
C)  Balance sheet 
D)  Cash 
E)  Profit

Question 5

Where would you expect to find the following information: "XYZ Corporation has $746 million in assets and $593 million in liabilities on October 1, 2012?"

Accepted Answer

A)  Income statement 
B)  Balance sheet 
C)  Internal audit 
D)  Operations budget 
E)  Pro forma statement 
A)  Income statement 
B)  Balance sheet 
C)  Internal audit 
D)  Operations budget 
E)  Pro forma statement

Question 6

Secretary of Defense, Gates, shifted the pentagon's budget from expensive, high tech weapon systems to timely, responsive systems. Small defense contractors were more responsive to the change and won more contracts. In this case ____ control helped the small companies.

Accepted Answer

A)  structural 
B)  hierarchical 
C)  strategic 
D)  managerial 
E)  operations 
A)  structural 
B)  hierarchical 
C)  strategic 
D)  managerial 
E)  operations

Question 7

Most organizations define areas of control in terms of the four basic types of resources they use: physical, human, ____________________ and financial.

Accepted Answer

The answer of Most organizations define areas of control in...

Question 8

The responsibility for managing control rests on the CEO.

Accepted Answer

A) True 
 B)False

Question 9

Businesses must manage their finances so that revenues are sufficient to cover costs. Not-for-profit organizations such as universities do not have the same concerns.

Accepted Answer

A) True 
 B)False

Question 10

What is the MOST important factor in effectively integrating the planning and control functions?

Accepted Answer

A)  Set clear objectives 
B)  Develop a strategy that eliminates the need for controls 
C)  Compare past performance to standards 
D)  Ensure that the system is flexible 
E)  Provide for controls as plans are developed 
A)  Set clear objectives 
B)  Develop a strategy that eliminates the need for controls 
C)  Compare past performance to standards 
D)  Ensure that the system is flexible 
E)  Provide for controls as plans are developed

Question 11

Controls applied to screen employees before they are hired are called ____________________ controls.

Accepted Answer

The answer of Controls applied to screen employees before they...

Question 12

Which of the following statements about financial audits is TRUE?

Accepted Answer

A)  They are independent appraisals. 
B)  They may be internal or external to the organization. 
C)  They may be used to monitor accounting, financial, and operating systems within an organization. 
D)  They may be conducted on a continual or an intermittent basis. 
E)  All of these choices 
A)  They are independent appraisals. 
B)  They may be internal or external to the organization. 
C)  They may be used to monitor accounting, financial, and operating systems within an organization. 
D)  They may be conducted on a continual or an intermittent basis. 
E)  All of these choices

Question 13

The form of organizational control based on informal, organic structural arrangements is ____________________ control.

Accepted Answer

The answer of The form of organizational control based on...

Question 14

____________________ control is concerned with how elements of the organization's structure are serving their intended purpose.

Accepted Answer

The answer of ____________________ control is concerned with how elements...

Question 15

Imagine you are the lead representative for Ford in contract negotiations with the UAW. How can you use financial controls and budgets to support your position?

Accepted Answer

As the lead representative for Ford in c

Question 16

Postaction control is most appropriate when the

Accepted Answer

A)  time between goal setting and attainment is short. 
B)  product being produced is nonperishable. 
C)  product being produced is simple and routine. 
D)  production process is very complicated. 
E)  volume of product output is extremely large. 
A)  time between goal setting and attainment is short. 
B)  product being produced is nonperishable. 
C)  product being produced is simple and routine. 
D)  production process is very complicated. 
E)  volume of product output is extremely large.

Question 17

Some managers at J.P. Morgan Chase viewed the CEO monitoring all of their expenses as too much involvement. They saw it as

Accepted Answer

A)  extreme objectivity. 
B)  inappropriate focus. 
C)  overcontrol. 
D)  excessive accountability. 
E)  inflexibility. 
A)  extreme objectivity. 
B)  inappropriate focus. 
C)  overcontrol. 
D)  excessive accountability. 
E)  inflexibility.

Question 18

Politicians transform information from many sources into decisions about policies for the area they govern. When politicians "float an idea" by having a staff member leak it to the press to gauge reaction, the politician's staff is using ____ control.

Accepted Answer

A)  screening 
B)  preliminary 
C)  postaction 
D)  cybernetic 
E)  yes-no 
A)  screening 
B)  preliminary 
C)  postaction 
D)  cybernetic 
E)  yes-no

Question 19

If a manager has a directive leadership style and works in an organization in which performance expectations are minimal, which control structure is most appropriate?

Accepted Answer

A)  Decentralized 
B)  Organic 
C)  System 4 
D)  Bureaucratic 
E)  Laissez-faire 
A)  Decentralized 
B)  Organic 
C)  System 4 
D)  Bureaucratic 
E)  Laissez-faire

Question 20

John Hamann began his company making herb vinegars from a recipe his grandmother had given him. As demand grew, he had to buy a large commercial kitchen. Which of the following ratios would a banker have been most interested in before allowing Hamann to borrow $500,000?

Accepted Answer

A)  Liquidity ratios 
B)  Profitability ratios 
C)  Debt ratios 
D)  Operating ratios 
E)  Activity ratios 
A)  Liquidity ratios 
B)  Profitability ratios 
C)  Debt ratios 
D)  Operating ratios 
E)  Activity ratios

As goals are set during the ____________________ process, attention should be paid to developing standards that will reflect how well the plan is realized.

Which of the following is NOT characteristic of decentralized control?

Which of the following statements does NOT describe a weakness associated with budgeting?

Which of the following is NOT a type of financial budget?

Where would you expect to find the following information: "XYZ Corporation has $746 million in assets and $593 million in liabilities on October 1, 2012?"

Secretary of Defense, Gates, shifted the pentagon's budget from expensive, high tech weapon systems to timely, responsive systems. Small defense contractors were more responsive to the change and won more contracts. In this case ____ control helped the small companies.

Most organizations define areas of control in terms of the four basic types of resources they use: physical, human, ____________________ and financial.

The responsibility for managing control rests on the CEO.

Businesses must manage their finances so that revenues are sufficient to cover costs. Not-for-profit organizations such as universities do not have the same concerns.

What is the MOST important factor in effectively integrating the planning and control functions?

Controls applied to screen employees before they are hired are called ____________________ controls.

Which of the following statements about financial audits is TRUE?

The form of organizational control based on informal, organic structural arrangements is ____________________ control.

____________________ control is concerned with how elements of the organization's structure are serving their intended purpose.

Imagine you are the lead representative for Ford in contract negotiations with the UAW. How can you use financial controls and budgets to support your position?

Postaction control is most appropriate when the

Some managers at J.P. Morgan Chase viewed the CEO monitoring all of their expenses as too much involvement. They saw it as

Politicians transform information from many sources into decisions about policies for the area they govern. When politicians "float an idea" by having a staff member leak it to the press to gauge reaction, the politician's staff is using ____ control.

If a manager has a directive leadership style and works in an organization in which performance expectations are minimal, which control structure is most appropriate?

John Hamann began his company making herb vinegars from a recipe his grandmother had given him. As demand grew, he had to buy a large commercial kitchen. Which of the following ratios would a banker have been most interested in before allowing Hamann to borrow $500,000?

Managing and the Managers Job

Traditional and Contemporary Opportunitieschallenges

Understanding the Organizations Environment

Responding to the Ethical and Social Environment

Navigating the Global Environment

Basic Elements of Planning and Decision Making

Managing Strategy and Strategic Planning

Managing Decision Making and Problem Solving

Managing Start-Ups and New Ventures

Basic Elements of Organizing

Managing Organization Design

Managing Organization Change and Innovation

Managing Human Resources

Basic Elements of Individual and Interpersonal Behavior

Managing Employee Motivation and Performance

Managing Leadership and Influence Process

Managing Interpersonal Relations and Communication

Managing Work Groups and Teams

Managing Operations, Quality and Productivity

Filters

Exam 19: Basic Elements of Control

As goals are set during the ____________________ process, attention should be paid to developing standards that will reflect how well the plan is realized.

Which of the following is NOT characteristic of decentralized control?

Which of the following statements does NOT describe a weakness associated with budgeting?

Which of the following is NOT a type of financial budget?

Where would you expect to find the following information: "XYZ Corporation has $746 million in assets and $593 million in liabilities on October 1, 2012?"

Secretary of Defense, Gates, shifted the pentagon's budget from expensive, high tech weapon systems to timely, responsive systems. Small defense contractors were more responsive to the change and won more contracts. In this case ____ control helped the small companies.

Most organizations define areas of control in terms of the four basic types of resources they use: physical, human, ____________________ and financial.

The responsibility for managing control rests on the CEO.

Businesses must manage their finances so that revenues are sufficient to cover costs. Not-for-profit organizations such as universities do not have the same concerns.

What is the MOST important factor in effectively integrating the planning and control functions?

Controls applied to screen employees before they are hired are called ____________________ controls.

Which of the following statements about financial audits is TRUE?

The form of organizational control based on informal, organic structural arrangements is ____________________ control.

____________________ control is concerned with how elements of the organization's structure are serving their intended purpose.

Imagine you are the lead representative for Ford in contract negotiations with the UAW. How can you use financial controls and budgets to support your position?

Postaction control is most appropriate when the

Some managers at J.P. Morgan Chase viewed the CEO monitoring all of their expenses as too much involvement. They saw it as

Politicians transform information from many sources into decisions about policies for the area they govern. When politicians "float an idea" by having a staff member leak it to the press to gauge reaction, the politician's staff is using ____ control.

If a manager has a directive leadership style and works in an organization in which performance expectations are minimal, which control structure is most appropriate?

John Hamann began his company making herb vinegars from a recipe his grandmother had given him. As demand grew, he had to buy a large commercial kitchen. Which of the following ratios would a banker have been most interested in before allowing Hamann to borrow $500,000?

Managing and the Managers Job

Traditional and Contemporary Opportunitieschallenges

Understanding the Organizations Environment

Responding to the Ethical and Social Environment

Navigating the Global Environment

Basic Elements of Planning and Decision Making

Managing Strategy and Strategic Planning

Managing Decision Making and Problem Solving

Managing Start-Ups and New Ventures

Basic Elements of Organizing

Managing Organization Design

Managing Organization Change and Innovation

Managing Human Resources

Basic Elements of Individual and Interpersonal Behavior

Managing Employee Motivation and Performance

Managing Leadership and Influence Process

Managing Interpersonal Relations and Communication

Managing Work Groups and Teams

Managing Operations, Quality and Productivity

Filters