Exam 19: Managing Quality and Performance

A(n) __________ includes anticipated and actual expenses for each responsibility center and for the total organization.

A quality circle is a group of _____ to _____ volunteer employees.

__________ is/are to the difference between assets and liabilities and is/are the company's net worth in stock and retained earnings.

Stella, a systems manager for a large technology company, would like to get an understanding of her company's financial position with respect to assets and liabilities at the end of the fiscal year. Which of the following should she refer to?

Pauline is an area manager at Ironman Gym. She anticipates her area's needs and formulates a proposed budget every quarter. She then sends this proposal to her manager. This is an example of __________ budgeting.

A process in which lower-level managers anticipate their department's resource needs and pass them to top management for approval is called top-down budgeting.

The final step of the feedback control model is to do nothing if performance is adequate or to take corrective action if performance is inadequate.

Auto-analytics is the practice of voluntarily collecting and analyzing data about oneself in order to improve.

An activity ratio that measures how many times the inventory is used up to meet the total sales figure is called the inventory turnover.

A(n) __________ center is defined as any organizational department or unit under the supervision of a single person who is responsible for its activity.

Mistletoe Corporation has a detailed set of organizational goals and a management information system that delivers timely and accurate information. Mistletoe still has control problems, however, because its managers refuse to act on the information they receive. Mistletoe's control process has flaws in which of the following areas?

Bottom-up budgeting is a process in which lower-level managers anticipate their departments' resource needs and pass them up to top management for approval.

The first step in the feedback control model is to determine what changes, if any, are needed.

The basic philosophy of control at Nutrients-For-You, Inc. is based on the policies found in the employee handbook, as well as a strict hierarchy of authority. This philosophy is consistent with __________ control.

Charlie, a manager at a textile company, is bothered by a lack in quality of products manufactured by his company. Charlie hopes to infuse quality into the company through continuous improvement by involving everyone who works there. This describes which control philosophy?

An expense budget lists forecasted and actual revenues of the organization.

Brad is a department manager at Home Theater, Inc. His sole role in the budget process is to implement the budget that is developed for him. This is an example of:

The cash budget estimates receipts and expenditures of money on a daily or weekly basis to ensure that an organization has sufficient cash to meet its obligations.

Net income divided by sales is the correct formula for calculating:

Which of the following is a quality-control approach that emphasizes a disciplined and relentless pursuit of higher quality and lower costs?