Question 1

Describe the characteristics of an effective control system.

Accepted Answer

Characteristics of an effective control

Question 2

For a plan to qualify as a budget, it must specify results in terms of money.

Accepted Answer

A) True 
 B)False

Question 3

Activity-based costing for a military measure such as cost per tank mile would take into account such costs as research and development times, salaries, deterioration of equipment, and support workers back at the base.

Accepted Answer

A) True 
 B)False

Question 4

The profit margin financial ratio usually produces a more optimistic picture of financial performance than does the gross profit margin.

Accepted Answer

A) True 
 B)False

Question 5

An example of a feedback control is a(n)

Accepted Answer

A)  financial report. 
B)  quality specification. 
C)  in-process inspection of parts. 
D)  a field visit by top-level management. 
A)  financial report. 
B)  quality specification. 
C)  in-process inspection of parts. 
D)  a field visit by top-level management.

Question 6

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

Accepted Answer

A)  financial 
B)  customer service 
C)  learning and growth 
D)  cost controls 
A)  financial 
B)  customer service 
C)  learning and growth 
D)  cost controls

Question 7

The control information provided by an information system is

Accepted Answer

A)  usually outdated when it arrives. 
B)  based on activities that take place outside the company. 
C)  virtually unlimited. 
D)  quite restricted in scope. 
A)  usually outdated when it arrives. 
B)  based on activities that take place outside the company. 
C)  virtually unlimited. 
D)  quite restricted in scope.

Question 8

In calculating the profit margin, net income is

Accepted Answer

A)  subtracted from cost of goods sold. 
B)  added to profits. 
C)  divided by sales. 
D)  subtracted from sales. 
A)  subtracted from cost of goods sold. 
B)  added to profits. 
C)  divided by sales. 
D)  subtracted from sales.

Question 9

A suggestion for preparing a budget is to allow yourself some "wiggle room" to avoid looking bad and not making your projections.

Accepted Answer

A) True 
 B)False

Question 10

Used sensibly, controls enhance organizational and individual effectiveness.

Accepted Answer

A) True 
 B)False

Question 11

A strong recommendation about preparing a budget is to skip intuition and stick to the facts when forecasting future sales.

Accepted Answer

A) True 
 B)False

Question 12

A caution about cost cutting is that it can lead to

Accepted Answer

A)  low morale and lower quality goods and services. 
B)  the image of a cheap company 
C)  both a & b 
D)  increase the cost of supplies 
A)  low morale and lower quality goods and services. 
B)  the image of a cheap company 
C)  both a & b 
D)  increase the cost of supplies

Question 13

A typical revenue per employee for a large business corporation would be about $1 million.

Accepted Answer

A) True 
 B)False

Question 14

An important part of the balanced scorecard is to provide workers with a complete picture of the organization.

Accepted Answer

A) True 
 B)False

Describe the characteristics of an effective control system.

For a plan to qualify as a budget, it must specify results in terms of money.

Activity-based costing for a military measure such as cost per tank mile would take into account such costs as research and development times, salaries, deterioration of equipment, and support workers back at the base.

The profit margin financial ratio usually produces a more optimistic picture of financial performance than does the gross profit margin.

An example of a feedback control is a(n)

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

The control information provided by an information system is

In calculating the profit margin, net income is

A suggestion for preparing a budget is to allow yourself some "wiggle room" to avoid looking bad and not making your projections.

Used sensibly, controls enhance organizational and individual effectiveness.

A strong recommendation about preparing a budget is to skip intuition and stick to the facts when forecasting future sales.

A caution about cost cutting is that it can lead to

A typical revenue per employee for a large business corporation would be about $1 million.

An important part of the balanced scorecard is to provide workers with a complete picture of the organization.

The Managers Job

International Management and Cultural Diversity

Ethics and Social Responsibility

Essentials of Planning

Problem Solving and Decision Making

Quantitative Techniques for Planning and Decision Making

Job Design and Work Schedules

Organization Structure, Culture, and Change

Staffing and Human Resource Management

Leadership

Motivation

Communication

Teams, Groups, and Teamwork

Information Technology and E-Commerce

Managing Ineffective Performers

Enhancing Personal Productivity and Managing Stress

Filters

Exam 15: Essentials of Control

Describe the characteristics of an effective control system.

For a plan to qualify as a budget, it must specify results in terms of money.

Activity-based costing for a military measure such as cost per tank mile would take into account such costs as research and development times, salaries, deterioration of equipment, and support workers back at the base.

The profit margin financial ratio usually produces a more optimistic picture of financial performance than does the gross profit margin.

An example of a feedback control is a(n)

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

The control information provided by an information system is

In calculating the profit margin, net income is

A suggestion for preparing a budget is to allow yourself some "wiggle room" to avoid looking bad and not making your projections.

Used sensibly, controls enhance organizational and individual effectiveness.

A strong recommendation about preparing a budget is to skip intuition and stick to the facts when forecasting future sales.

A caution about cost cutting is that it can lead to

A typical revenue per employee for a large business corporation would be about $1 million.

An important part of the balanced scorecard is to provide workers with a complete picture of the organization.

The Managers Job

International Management and Cultural Diversity

Ethics and Social Responsibility

Essentials of Planning

Problem Solving and Decision Making

Quantitative Techniques for Planning and Decision Making

Job Design and Work Schedules

Organization Structure, Culture, and Change

Staffing and Human Resource Management

Leadership

Motivation

Communication

Teams, Groups, and Teamwork

Information Technology and E-Commerce

Managing Ineffective Performers

Enhancing Personal Productivity and Managing Stress

Filters