Question 1

In a traditional ____________________ approach, managers exercise their formal authority to make necessary changes.

Accepted Answer

The answer of In a traditional ____________________ approach, managers exercise...

Question 2

A group of 6 to 12 volunteer employees who meet regularly to discuss and solve problems affecting their common work activities is a

Accepted Answer

A)  feedforward control group. 
B)  work team. 
C)  quality circle. 
D)  committee. 
E)  problem team. 
A)  feedforward control group. 
B)  work team. 
C)  quality circle. 
D)  committee. 
E)  problem team.

Question 3

The implementation of a large number of small, incremental improvements in all areas of the organization and an ongoing basis is called continuous improvement.

Accepted Answer

A) True 
 B)False

Question 4

__________ controls deals with active anticipation of problems and their timely solution.

Accepted Answer

A)  Feedforward control 
B)  Concurrent control 
C)  Feedback control 
D)  Post-action control 
E)  Output control 
A)  Feedforward control 
B)  Concurrent control 
C)  Feedback control 
D)  Post-action control 
E)  Output control

Question 5

Market value-added systems measure the stock market's estimate of the value of the company's past and projected capital investment projects.

Accepted Answer

A) True 
 B)False

Question 6

____________________ can focus on events before, during, or after the process.

Accepted Answer

The answer of ____________________ can focus on events before, during,...

Question 7

A quality circle is a group of __________ volunteer employees.

Accepted Answer

A)  2 to 4 
B)  6 to 12 
C)  10 to 20 
D)  15 to 25 
E)  30 to 50 
A)  2 to 4 
B)  6 to 12 
C)  10 to 20 
D)  15 to 25 
E)  30 to 50

Question 8

The implementation of a large number of small, incremental improvements in all areas of the organization on an ongoing basis is referred to as ___________________________________.

Accepted Answer

continuous

Question 9

A(n) _________________________ lists forecasted and actual revenues of the organization.

Accepted Answer

The answer of A(n) _________________________ lists forecasted and actual revenues...

Question 10

Corporate governance refers to the system of governing an organization so that the interests of corporate owners are protected.

Accepted Answer

A) True 
 B)False

Question 11

The steps taken to complete a company process is called

Accepted Answer

A)  continuous improvement. 
B)  cycle time. 
C)  quality circles. 
D)  six sigma. 
E)  benchmarking. 
A)  continuous improvement. 
B)  cycle time. 
C)  quality circles. 
D)  six sigma. 
E)  benchmarking.

Question 12

The firm's financial performance for a given time period is shown on the ______________________________.

Accepted Answer

The answer of The firm's financial performance for a given...

Question 13

A(n) __________ includes anticipated and actual expenses for a responsibility center.

Accepted Answer

A)  revenue budget 
B)  cash budget 
C)  capital budget 
D)  expense budget 
E)  operating budget 
A)  revenue budget 
B)  cash budget 
C)  capital budget 
D)  expense budget 
E)  operating budget

Question 14

__________ is the first step in the control system.

Accepted Answer

A)  Establishing strategic objectives 
B)  Establishing standards of performance 
C)  Taking corrective action 
D)  Comparing performance to standard 
E)  Measuring previous performance 
A)  Establishing strategic objectives 
B)  Establishing standards of performance 
C)  Taking corrective action 
D)  Comparing performance to standard 
E)  Measuring previous performance

Question 15

A(n) ____________________ ratio measures internal performance with respect to key activities defined by management.

Accepted Answer

The answer of A(n) ____________________ ratio measures internal performance with...

Question 16

Name the three types of control.

Accepted Answer

Feedforwar

Question 17

All of the following are key steps of setting up feedback control systems EXCEPT

Accepted Answer

A)  comparing performance to standards. 
B)  establishing standards. 
C)  getting employee opinions. 
D)  measuring performance. 
E)  making necessary corrections. 
A)  comparing performance to standards. 
B)  establishing standards. 
C)  getting employee opinions. 
D)  measuring performance. 
E)  making necessary corrections.

Question 18

An advantage of the bottom-up budgeting process is

Accepted Answer

A)  its emphasis on bureaucratic control. 
B)  lower managers are more involved. 
C)  top managers control the information flow. 
D)  top managers are often not committed to achieving budget targets. 
E)  all of these. 
A)  its emphasis on bureaucratic control. 
B)  lower managers are more involved. 
C)  top managers control the information flow. 
D)  top managers are often not committed to achieving budget targets. 
E)  all of these.

Question 19

A comprehensive management control system that balances traditional financial measures with operational measures relating to a company's critical success factors is called a(n)

Accepted Answer

A)  economic value-added system. 
B)  activity-based costing system. 
C)  market value-added system. 
D)  balanced scorecard. 
E)  open-book management system. 
A)  economic value-added system. 
B)  activity-based costing system. 
C)  market value-added system. 
D)  balanced scorecard. 
E)  open-book management system.

Question 20

The __________ is purchase orders divided by customer inquiries.

Accepted Answer

A)  current ratio 
B)  inventory turnover ratio 
C)  conversion ratio 
D)  profit margin on sales 
E)  none of these 
A)  current ratio 
B)  inventory turnover ratio 
C)  conversion ratio 
D)  profit margin on sales 
E)  none of these

Exam 19: Managerial and Quality Control

In a traditional ____________________ approach, managers exercise their formal authority to make necessary changes.

A group of 6 to 12 volunteer employees who meet regularly to discuss and solve problems affecting their common work activities is a

The implementation of a large number of small, incremental improvements in all areas of the organization and an ongoing basis is called continuous improvement.

__________ controls deals with active anticipation of problems and their timely solution.

Market value-added systems measure the stock market's estimate of the value of the company's past and projected capital investment projects.

____________________ can focus on events before, during, or after the process.

A quality circle is a group of __________ volunteer employees.

The implementation of a large number of small, incremental improvements in all areas of the organization on an ongoing basis is referred to as ___________________________________.

A(n) _________________________ lists forecasted and actual revenues of the organization.

Corporate governance refers to the system of governing an organization so that the interests of corporate owners are protected.

The steps taken to complete a company process is called

The firm's financial performance for a given time period is shown on the ______________________________.

A(n) __________ includes anticipated and actual expenses for a responsibility center.

__________ is the first step in the control system.

A(n) ____________________ ratio measures internal performance with respect to key activities defined by management.

Name the three types of control.

All of the following are key steps of setting up feedback control systems EXCEPT

An advantage of the bottom-up budgeting process is

A comprehensive management control system that balances traditional financial measures with operational measures relating to a company's critical success factors is called a(n)

The __________ is purchase orders divided by customer inquiries.

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