Question 1

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

Accepted Answer

A) True 
 B)False  True

Question 2

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

Accepted Answer

A) True 
 B)False  False

Question 3

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

Question 4

What is the first step in the feedback 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 5

The _____ plans future investments in major assets to be depreciated over several years.

Accepted Answer

A) capital budget 
B) balance sheet budget 
C) cash budget 
D) revenue budget 
E) profit budget 
A) capital budget 
B) balance sheet budget 
C) cash budget 
D) revenue budget 
E) profit budget

Question 6

Silver n' Gold Inc.recently introduced a new control philosophy where all employees have access to the same information that owners have,such as what money is coming in and where it is going.This is an example of which control philosophy?

Accepted Answer

A) Balanced scorecard 
B) Six Sigma 
C) Continuous improvement 
D) Total quality management 
E) Open-book management 
A) Balanced scorecard 
B) Six Sigma 
C) Continuous improvement 
D) Total quality management 
E) Open-book management

Question 7

Ophelia,the new CEO at Odyssey Inc.,plans to implement a highly effective systematic process of regulating organizational activities to make them consistent with the expectations that are established by managers within the company.This is referred to as _____ control.

Accepted Answer

A) organizational 
B) feedback 
C) budgetary 
D) systems 
E) quality 
A) organizational 
B) feedback 
C) budgetary 
D) systems 
E) quality

Question 8

The _____ lists planned investments in major assets such as buildings,trucks,and heavy machinery,often involving expenditures over more than a year.

Accepted Answer

The answer of The _____ lists planned investments in major...

Question 9

Tammy is a production manager at Eagle's Nest,Inc.She is concerned that too much money is being wasted on inventory that is sitting in the warehouse too long.She should calculate a(n):

Accepted Answer

A) current ratio. 
B) inventory turnover ratio. 
C) conversion ratio. 
D) profitability ratio. 
E) leverage ratio. 
A) current ratio. 
B) inventory turnover ratio. 
C) conversion ratio. 
D) profitability ratio. 
E) leverage ratio.

Question 10

Most organizations measure and control performance using qualitative financial measures.

Accepted Answer

A) True 
 B)False

Question 11

TQM tends to be most successful when it enriches jobs and improves employee motivation.

Accepted Answer

A) True 
 B)False

Question 12

The initial cost of implementing the SOX reforms is relatively minor for a small business once it becomes public.

Accepted Answer

A) True 
 B)False

Question 13

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

Accepted Answer

A) return on total assets. 
B) a current ratio. 
C) a liquidity ratio. 
D) profit margin on sales. 
E) a corporate evaluation. 
A) return on total assets. 
B) a current ratio. 
C) a liquidity ratio. 
D) profit margin on sales. 
E) a corporate evaluation.

Question 14

Continuous improvement is the implementation of a large number of small,incremental improvements in all areas of the organization on an ongoing basis.

Accepted Answer

A) True 
 B)False

Question 15

The certification based on a set of international standards for quality management,setting uniform guidelines for processes to ensure that products conform to customer requirements is the ISO certification.

Accepted Answer

A) True 
 B)False

Question 16

Sharing financial information and results with all employees in the organization is called _____ management.

Accepted Answer

The answer of Sharing financial information and results with all...

Question 17

_____ focuses on whether performance meets established standards.

Accepted Answer

The answer of _____ focuses on whether performance meets established...

Question 18

A(n)_____ ratio indicates an organization's ability to meet its current debt obligations.

Accepted Answer

The answer of A(n)_____ ratio indicates an organization's ability to...

Question 19

A cash budget estimates receipts and expenditures of money on a daily or weekly basis..

Accepted Answer

A) True 
 B)False

Question 20

The goal of open-book management is to get every employee thinking and acting like a business owner.

Accepted Answer

A) True 
 B)False

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

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

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?

What is the first step in the feedback control system?

The _____ plans future investments in major assets to be depreciated over several years.

Silver n' Gold Inc.recently introduced a new control philosophy where all employees have access to the same information that owners have,such as what money is coming in and where it is going.This is an example of which control philosophy?

Ophelia,the new CEO at Odyssey Inc.,plans to implement a highly effective systematic process of regulating organizational activities to make them consistent with the expectations that are established by managers within the company.This is referred to as _____ control.

The _____ lists planned investments in major assets such as buildings,trucks,and heavy machinery,often involving expenditures over more than a year.

Tammy is a production manager at Eagle's Nest,Inc.She is concerned that too much money is being wasted on inventory that is sitting in the warehouse too long.She should calculate a(n):

Most organizations measure and control performance using qualitative financial measures.

TQM tends to be most successful when it enriches jobs and improves employee motivation.

The initial cost of implementing the SOX reforms is relatively minor for a small business once it becomes public.

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

Continuous improvement is the implementation of a large number of small,incremental improvements in all areas of the organization on an ongoing basis.

The certification based on a set of international standards for quality management,setting uniform guidelines for processes to ensure that products conform to customer requirements is the ISO certification.

Sharing financial information and results with all employees in the organization is called _____ management.

_____ focuses on whether performance meets established standards.

A(n)_____ ratio indicates an organization's ability to meet its current debt obligations.

A cash budget estimates receipts and expenditures of money on a daily or weekly basis..

The goal of open-book management is to get every employee thinking and acting like a business owner.

The World of Innovative Management

The Environment and Corporate Culture

Managing in a Global Environment

Managing Ethics and Social Responsibility

Planning and Goal Setting

Managerial Decision Making

Designing Organization Structure

Managing Change and Innovation

Managing Human Resources and Diversity

Understanding Individual Behavior

Leadership

Motivating Employees

Managing Communication

Leading Teams

Filters

Exam 15: Managing Quality and Performance

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

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

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?

What is the first step in the feedback control system?

The _____ plans future investments in major assets to be depreciated over several years.

Silver n' Gold Inc.recently introduced a new control philosophy where all employees have access to the same information that owners have,such as what money is coming in and where it is going.This is an example of which control philosophy?

Ophelia,the new CEO at Odyssey Inc.,plans to implement a highly effective systematic process of regulating organizational activities to make them consistent with the expectations that are established by managers within the company.This is referred to as _____ control.

The _____ lists planned investments in major assets such as buildings,trucks,and heavy machinery,often involving expenditures over more than a year.

Tammy is a production manager at Eagle's Nest,Inc.She is concerned that too much money is being wasted on inventory that is sitting in the warehouse too long.She should calculate a(n):

Most organizations measure and control performance using qualitative financial measures.

TQM tends to be most successful when it enriches jobs and improves employee motivation.

The initial cost of implementing the SOX reforms is relatively minor for a small business once it becomes public.

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

Continuous improvement is the implementation of a large number of small,incremental improvements in all areas of the organization on an ongoing basis.

The certification based on a set of international standards for quality management,setting uniform guidelines for processes to ensure that products conform to customer requirements is the ISO certification.

Sharing financial information and results with all employees in the organization is called _____ management.

_____ focuses on whether performance meets established standards.

A(n)_____ ratio indicates an organization's ability to meet its current debt obligations.

A cash budget estimates receipts and expenditures of money on a daily or weekly basis..

The goal of open-book management is to get every employee thinking and acting like a business owner.

The World of Innovative Management

The Environment and Corporate Culture

Managing in a Global Environment

Managing Ethics and Social Responsibility

Planning and Goal Setting

Managerial Decision Making

Designing Organization Structure

Managing Change and Innovation

Managing Human Resources and Diversity

Understanding Individual Behavior

Leadership

Motivating Employees

Managing Communication

Leading Teams

Filters