Question 1

Companies today are increasingly shifting from a hierarchical control process to one that is more decentralized.

Accepted Answer

A) True 
 B)False

Question 2

The percentage representing what a company earned from its assets is called __________.

Accepted Answer

return on

Question 3

The income statement shows revenues coming into the organization from all sources and subtracts all expenses.

Accepted Answer

A) True 
 B)False

Question 4

__________ involves assigning dedicated personnel within a particular functional area of the business to identify opportunities for improvement throughout the work process.

Accepted Answer

A)  A quality circle 
B)  Benchmarking 
C)  Quality partnering 
D)  Continuous improvement 
E)  Total quality management 
A)  A quality circle 
B)  Benchmarking 
C)  Quality partnering 
D)  Continuous improvement 
E)  Total quality management

Question 5

__________ is the process of setting targets for an organization's expenditures, monitoring results and comparing them to the budget, and making changes as needed.

Accepted Answer

The answer of __________ is the process of setting targets...

Question 6

__________means that the budgeted amounts for the coming year are literally imposed on middle- and lower-level managers.

Accepted Answer

The answer of __________means that the budgeted amounts for the...

Question 7

Zero-based budgeting requires a complete justification for every line item in a budget.

Accepted Answer

A) True 
 B)False

Question 8

Total quality management tends to be most successful when it enriches jobs and improves employee motivation.

Accepted Answer

A) True 
 B)False

Question 9

Customer service, external business processes, financial performance, and the organization's potential for learning and growth are the four major perspectives of the balanced scorecard.

Accepted Answer

A) True 
 B)False

Question 10

At LBK Industries, responsibility for quality control rests with a team of quality control inspectors and supervisors rather than with employees. LBK uses what type of organizational control?

Accepted Answer

A)  Matrix 
B)  Hierarchical 
C)  Decentralized 
D)  Bottom-up 
E)  Balanced 
A)  Matrix 
B)  Hierarchical 
C)  Decentralized 
D)  Bottom-up 
E)  Balanced

Question 11

All of the following are total quality management techniques except:

Accepted Answer

A)  quality partnering. 
B)  continuous improvement. 
C)  electronic monitoring. 
D)  Six Sigma principles. 
E)  benchmarking. 
A)  quality partnering. 
B)  continuous improvement. 
C)  electronic monitoring. 
D)  Six Sigma principles. 
E)  benchmarking.

Question 12

Katrina Aldridge
The yearly auditing review of Pilgrim Industries is scheduled for next month. Katrina Aldridge is preparing for that audit and is also preparing her budget for the coming year.
-Katrina has also requested that the financial ratios be calculated and analyzed for her. Which of the following ratios will give her the best information for evaluating liquidity?

Accepted Answer

A)  Profit margin on sales 
B)  Current ratio 
C)  Conversion ratio 
D)  Return on assets 
E)  Debt ratio 
A)  Profit margin on sales 
B)  Current ratio 
C)  Conversion ratio 
D)  Return on assets 
E)  Debt ratio

Question 13

__________ is an approach to planning and decision making that requires a complete justification for every line item in a budget instead of carrying forward a prior budget and applying a percentage change.

Accepted Answer

Zero-based

Question 14

Net income divided by sales is the formula for:

Accepted Answer

A)  profit margin on sales. 
B)  the current ratio. 
C)  gross margin. 
D)  the debt ratio. 
E)  return on assets. 
A)  profit margin on sales. 
B)  the current ratio. 
C)  gross margin. 
D)  the debt ratio. 
E)  return on assets.

Question 15

The conversion ratio is computed as __________ divided by __________.

Accepted Answer

A)  net income; total sales 
B)  purchase orders; total sales 
C)  purchase orders; customer inquiries 
D)  net income; gross income 
E)  customer inquiries; purchase orders 
A)  net income; total sales 
B)  purchase orders; total sales 
C)  purchase orders; customer inquiries 
D)  net income; gross income 
E)  customer inquiries; purchase orders

Question 16

A balance sheet budget is a budget that plans and reports investments in major assets to be depreciated over several years.

Accepted Answer

A) True 
 B)False

Question 17

The firm's financial position with respect to assets and liabilities at a specific point in time is shown by its:

Accepted Answer

A)  activity ratio. 
B)  profitability ratio. 
C)  income statement. 
D)  liquidity ratio. 
E)  balance sheet. 
A)  activity ratio. 
B)  profitability ratio. 
C)  income statement. 
D)  liquidity ratio. 
E)  balance sheet.

Question 18

A feedback control model can help managers meet strategic goals by monitoring and regulating the organization's activities and using feedback to determine whether performance meets established standards.

Accepted Answer

A) True 
 B)False

Question 19

A contingency factor that can influence the success of a total quality management(TQM) program in a negative way is that:

Accepted Answer

A)  continuous improvement is a way of life. 
B)  TQM serves to enrich jobs and motivate employees. 
C)  problem-solving skills are improved for all employees. 
D)  participation and teamwork are used to tackle significant problems. 
E)  union leaders are left out of quality control discussions. 
A)  continuous improvement is a way of life. 
B)  TQM serves to enrich jobs and motivate employees. 
C)  problem-solving skills are improved for all employees. 
D)  participation and teamwork are used to tackle significant problems. 
E)  union leaders are left out of quality control discussions.

Question 20

__________ is defined as "the continuous process of measuring products, services, and practices against the toughest competitors or those companies recognized as industry leaders to identify areas of improvement."

Accepted Answer

The answer of __________ is defined as "the continuous process...

Companies today are increasingly shifting from a hierarchical control process to one that is more decentralized.

The percentage representing what a company earned from its assets is called __________.

The income statement shows revenues coming into the organization from all sources and subtracts all expenses.

__________ involves assigning dedicated personnel within a particular functional area of the business to identify opportunities for improvement throughout the work process.

__________ is the process of setting targets for an organization's expenditures, monitoring results and comparing them to the budget, and making changes as needed.

__________means that the budgeted amounts for the coming year are literally imposed on middle- and lower-level managers.

Zero-based budgeting requires a complete justification for every line item in a budget.

Total quality management tends to be most successful when it enriches jobs and improves employee motivation.

Customer service, external business processes, financial performance, and the organization's potential for learning and growth are the four major perspectives of the balanced scorecard.

At LBK Industries, responsibility for quality control rests with a team of quality control inspectors and supervisors rather than with employees. LBK uses what type of organizational control?

All of the following are total quality management techniques except:

__________ is an approach to planning and decision making that requires a complete justification for every line item in a budget instead of carrying forward a prior budget and applying a percentage change.

Net income divided by sales is the formula for:

The conversion ratio is computed as divided by .

A balance sheet budget is a budget that plans and reports investments in major assets to be depreciated over several years.

The firm's financial position with respect to assets and liabilities at a specific point in time is shown by its:

A feedback control model can help managers meet strategic goals by monitoring and regulating the organization's activities and using feedback to determine whether performance meets established standards.

A contingency factor that can influence the success of a total quality management(TQM) program in a negative way is that:

__________ is defined as "the continuous process of measuring products, services, and practices against the toughest competitors or those companies recognized as industry leaders to identify areas of improvement."

The World of Innovative Management

The Evolution of Management Thinking

The Environment and Corporate Culture

Managing in a Global Environment

Managing Ethics and Social Responsibility

Managing Start-Ups and New Ventures

Planning and Global Setting

Strategy Formulation and Execution

Managerial Decision Making

Designing Organization Structure

Managing Change and Innovation

Managing Human Resources

Managing Diversity

Understanding Invidividual Behavior

Leadership

Motivating Employees

Managing Communication

Leading Teams

Filters

Exam 19: Managing Quality and Performance

Companies today are increasingly shifting from a hierarchical control process to one that is more decentralized.

The percentage representing what a company earned from its assets is called __________.

The income statement shows revenues coming into the organization from all sources and subtracts all expenses.

__________ involves assigning dedicated personnel within a particular functional area of the business to identify opportunities for improvement throughout the work process.

__________ is the process of setting targets for an organization's expenditures, monitoring results and comparing them to the budget, and making changes as needed.

__________means that the budgeted amounts for the coming year are literally imposed on middle- and lower-level managers.

Zero-based budgeting requires a complete justification for every line item in a budget.

Total quality management tends to be most successful when it enriches jobs and improves employee motivation.

Customer service, external business processes, financial performance, and the organization's potential for learning and growth are the four major perspectives of the balanced scorecard.

At LBK Industries, responsibility for quality control rests with a team of quality control inspectors and supervisors rather than with employees. LBK uses what type of organizational control?

All of the following are total quality management techniques except:

__________ is an approach to planning and decision making that requires a complete justification for every line item in a budget instead of carrying forward a prior budget and applying a percentage change.

Net income divided by sales is the formula for:

The conversion ratio is computed as __________ divided by __________.

A balance sheet budget is a budget that plans and reports investments in major assets to be depreciated over several years.

The firm's financial position with respect to assets and liabilities at a specific point in time is shown by its:

A feedback control model can help managers meet strategic goals by monitoring and regulating the organization's activities and using feedback to determine whether performance meets established standards.

A contingency factor that can influence the success of a total quality management(TQM) program in a negative way is that:

__________ is defined as "the continuous process of measuring products, services, and practices against the toughest competitors or those companies recognized as industry leaders to identify areas of improvement."

The World of Innovative Management

The Evolution of Management Thinking

The Environment and Corporate Culture

Managing in a Global Environment

Managing Ethics and Social Responsibility

Managing Start-Ups and New Ventures

Planning and Global Setting

Strategy Formulation and Execution

Managerial Decision Making

Designing Organization Structure

Managing Change and Innovation

Managing Human Resources

Managing Diversity

Understanding Invidividual Behavior

Leadership

Motivating Employees

Managing Communication

Leading Teams

Filters

The conversion ratio is computed as divided by .