Question 1

A balance sheet consists of three major sections.Which of the following is one of those sections?

Accepted Answer

A) common stock 
B) income 
C) retained earnings 
D) liabilities 
A) common stock 
B) income 
C) retained earnings 
D) liabilities

Question 2

Marketing research is a feedforward control technique.

Accepted Answer

A) True 
 B)False

Question 3

Changing circumstances require organizations to monitor controls to ensure that they remain effective.

Accepted Answer

A) True 
 B)False

Question 4

The duration of time that differentiates "short-term" from "long-term" accounting is that ____________.

Accepted Answer

A) long-term means more than six months 
B) current means less than one year 
C) current means less then three months 
D) current just phases into long-term 
A) long-term means more than six months 
B) current means less than one year 
C) current means less then three months 
D) current just phases into long-term

Question 5

A high-level person in charge of planning for and overseeing efforts to control the management of all the risks an organization faces is called a:

Accepted Answer

A) physical distribution manager. 
B) production manager. 
C) risk manager. 
D) bureaucratic control. 
A) physical distribution manager. 
B) production manager. 
C) risk manager. 
D) bureaucratic control.

Question 6

Budgets are estimates of revenues or expenses.

Accepted Answer

A) True 
 B)False

Question 7

A validation process to ensure measurement accuracy and standardization is known as:

Accepted Answer

A) quality control. 
B) kaizen. 
C) standards. 
D) a QA system. 
A) quality control. 
B) kaizen. 
C) standards. 
D) a QA system.

Question 8

The steps in the control process include the following  except:

Accepted Answer

A) developing standing plans. 
B) taking corrective action. 
C) establishing performance standards. 
D) measuring performance. 
A) developing standing plans. 
B) taking corrective action. 
C) establishing performance standards. 
D) measuring performance.

Question 9

Controls are not effective if they are costly and redundant.

Accepted Answer

A) True 
 B)False

Question 10

Match the options below with the correct phrase:
-operating budget

Accepted Answer

A) a relationship of two numbers 
B) income - expenses = profit or loss 
C) a budget that always must be justified from "square one" 
D) a formal investigation conducted to determine if financial documents are correct and consistent with the organization's policies, rules, and procedures 
E) treats employees as assets
F)details how each financial responsibility center will manage its cash
G)provides estimates of revenues and expenses for a given period of time
H)assets = liabilities + stockholders' equity
I)each financial responsibility center's financial plan
J)an organizational unit that contributes costs, revenues, profits, or investments
K)involves selecting two critical figures from a financial statement and expressing their relationship as a ratio or percentage
L)a feedforward control technique that
M)a person responsible for planning and overseeing managment of all risks
N)a disciplined process that focuses on developing near-perfect products
O)cash flow statement
P)designed to measure and monitor specific aspects of an organization
Q)an inventory control system that matches purchasing with need 
A) a relationship of two numbers 
B) income - expenses = profit or loss 
C) a budget that always must be justified from "square one" 
D) a formal investigation conducted to determine if financial documents are correct and consistent with the organization's policies, rules, and procedures 
E) treats employees as assets
F)details how each financial responsibility center will manage its cash
G)provides estimates of revenues and expenses for a given period of time
H)assets = liabilities + stockholders' equity
I)each financial responsibility center's financial plan
J)an organizational unit that contributes costs, revenues, profits, or investments
K)involves selecting two critical figures from a financial statement and expressing their relationship as a ratio or percentage
L)a feedforward control technique that
M)a person responsible for planning and overseeing managment of all risks
N)a disciplined process that focuses on developing near-perfect products
O)cash flow statement
P)designed to measure and monitor specific aspects of an organization
Q)an inventory control system that matches purchasing with need

Question 11

A feedforward control technique that helps ascertain what customers are thinking is often called ____________.

Accepted Answer

A) customer research 
B) marketing agenda 
C) customer agenda 
D) marketing research 
A) customer research 
B) marketing agenda 
C) customer agenda 
D) marketing research

Question 12

If a control is too __________,a deviation between actual and planned performance may result in poor coordination among organizational subunits.

Accepted Answer

A) tight 
B) loose 
C) accurate 
D) inaccurate 
A) tight 
B) loose 
C) accurate 
D) inaccurate

Question 13

Match the options below with the correct phrase:
-zero-based budgeting

Accepted Answer

A) a relationship of two numbers 
B) income - expenses = profit or loss 
C) a budget that always must be justified from "square one" 
D) a formal investigation conducted to determine if financial documents are correct and consistent with the organization's policies, rules, and procedures 
E) treats employees as assets
F)details how each financial responsibility center will manage its cash
G)provides estimates of revenues and expenses for a given period of time
H)assets = liabilities + stockholders' equity
I)each financial responsibility center's financial plan
J)an organizational unit that contributes costs, revenues, profits, or investments
K)involves selecting two critical figures from a financial statement and expressing their relationship as a ratio or percentage
L)a feedforward control technique that
M)a person responsible for planning and overseeing managment of all risks
N)a disciplined process that focuses on developing near-perfect products
O)cash flow statement
P)designed to measure and monitor specific aspects of an organization
Q)an inventory control system that matches purchasing with need 
A) a relationship of two numbers 
B) income - expenses = profit or loss 
C) a budget that always must be justified from "square one" 
D) a formal investigation conducted to determine if financial documents are correct and consistent with the organization's policies, rules, and procedures 
E) treats employees as assets
F)details how each financial responsibility center will manage its cash
G)provides estimates of revenues and expenses for a given period of time
H)assets = liabilities + stockholders' equity
I)each financial responsibility center's financial plan
J)an organizational unit that contributes costs, revenues, profits, or investments
K)involves selecting two critical figures from a financial statement and expressing their relationship as a ratio or percentage
L)a feedforward control technique that
M)a person responsible for planning and overseeing managment of all risks
N)a disciplined process that focuses on developing near-perfect products
O)cash flow statement
P)designed to measure and monitor specific aspects of an organization
Q)an inventory control system that matches purchasing with need

Question 14

Many major airports require people and their carry-on,personal belongings to be screened through a metal detection device.This procedure is a concurrent as well as ____________ control.

Accepted Answer

A) feedforward 
B) feedback 
C) therapeutic 
D) process 
A) feedforward 
B) feedback 
C) therapeutic 
D) process

Question 15

A QA process is a validation process to ensure measurement accuracy and standardization.

Accepted Answer

A) True 
 B)False

Question 16

Match the options below with the correct phrase:
-risk manager

Accepted Answer

A) a relationship of two numbers 
B) income - expenses = profit or loss 
C) a budget that always must be justified from "square one" 
D) a formal investigation conducted to determine if financial documents are correct and consistent with the organization's policies, rules, and procedures 
E) treats employees as assets
F)details how each financial responsibility center will manage its cash
G)provides estimates of revenues and expenses for a given period of time
H)assets = liabilities + stockholders' equity
I)each financial responsibility center's financial plan
J)an organizational unit that contributes costs, revenues, profits, or investments
K)involves selecting two critical figures from a financial statement and expressing their relationship as a ratio or percentage
L)a feedforward control technique that
M)a person responsible for planning and overseeing managment of all risks
N)a disciplined process that focuses on developing near-perfect products
O)cash flow statement
P)designed to measure and monitor specific aspects of an organization
Q)an inventory control system that matches purchasing with need 
A) a relationship of two numbers 
B) income - expenses = profit or loss 
C) a budget that always must be justified from "square one" 
D) a formal investigation conducted to determine if financial documents are correct and consistent with the organization's policies, rules, and procedures 
E) treats employees as assets
F)details how each financial responsibility center will manage its cash
G)provides estimates of revenues and expenses for a given period of time
H)assets = liabilities + stockholders' equity
I)each financial responsibility center's financial plan
J)an organizational unit that contributes costs, revenues, profits, or investments
K)involves selecting two critical figures from a financial statement and expressing their relationship as a ratio or percentage
L)a feedforward control technique that
M)a person responsible for planning and overseeing managment of all risks
N)a disciplined process that focuses on developing near-perfect products
O)cash flow statement
P)designed to measure and monitor specific aspects of an organization
Q)an inventory control system that matches purchasing with need

Question 17

Control techniques are "similar" in concept to management,i.e. ,they vary by hierarchical level.

Accepted Answer

A) True 
 B)False

Question 18

When controls and the need for them are consistent with the organization's values,the controls will be:

Accepted Answer

A) ineffective. 
B) coordinated. 
C) in sync. 
D) effective. 
A) ineffective. 
B) coordinated. 
C) in sync. 
D) effective.

Question 19

After standards are established,managers must measure actual performance to determine variation from standard.

Accepted Answer

A) True 
 B)False

Question 20

Controlling effects and is effected by all other management functions.

Accepted Answer

A) True 
 B)False

A balance sheet consists of three major sections.Which of the following is one of those sections?

Marketing research is a feedforward control technique.

Changing circumstances require organizations to monitor controls to ensure that they remain effective.

The duration of time that differentiates "short-term" from "long-term" accounting is that ____________.

A high-level person in charge of planning for and overseeing efforts to control the management of all the risks an organization faces is called a:

Budgets are estimates of revenues or expenses.

A validation process to ensure measurement accuracy and standardization is known as:

The steps in the control process include the following except:

Controls are not effective if they are costly and redundant.

Match the options below with the correct phrase: -operating budget

A feedforward control technique that helps ascertain what customers are thinking is often called ____________.

If a control is too __________,a deviation between actual and planned performance may result in poor coordination among organizational subunits.

Match the options below with the correct phrase: -zero-based budgeting

Many major airports require people and their carry-on,personal belongings to be screened through a metal detection device.This procedure is a concurrent as well as ____________ control.

A QA process is a validation process to ensure measurement accuracy and standardization.

Match the options below with the correct phrase: -risk manager

Control techniques are "similar" in concept to management,i.e. ,they vary by hierarchical level.

When controls and the need for them are consistent with the organization's values,the controls will be:

After standards are established,managers must measure actual performance to determine variation from standard.

Controlling effects and is effected by all other management functions.

Management: An Overview

Management Thought: Past and Present

The Managers Environment

Planning and Strategy

Managements Commitments to Quality and Productivity

Making Decisions

Organizing Principles

Organizational Design, Culture, and Change

Management Ethics and Social Responsibility

Staffing the Workforce

Communication: Interpersonal and Organizational

Human Motivation

Leadership

Team Management and Conflict

Information Management Systems

Filters

Exam 16: Control: Purpose, Process, and Techniques

A balance sheet consists of three major sections.Which of the following is one of those sections?

Marketing research is a feedforward control technique.

Changing circumstances require organizations to monitor controls to ensure that they remain effective.

The duration of time that differentiates "short-term" from "long-term" accounting is that ____________.

A high-level person in charge of planning for and overseeing efforts to control the management of all the risks an organization faces is called a:

Budgets are estimates of revenues or expenses.

A validation process to ensure measurement accuracy and standardization is known as:

The steps in the control process include the following except:

Controls are not effective if they are costly and redundant.

Match the options below with the correct phrase: -operating budget

A feedforward control technique that helps ascertain what customers are thinking is often called ____________.

If a control is too __________,a deviation between actual and planned performance may result in poor coordination among organizational subunits.

Match the options below with the correct phrase: -zero-based budgeting

Many major airports require people and their carry-on,personal belongings to be screened through a metal detection device.This procedure is a concurrent as well as ____________ control.

A QA process is a validation process to ensure measurement accuracy and standardization.

Match the options below with the correct phrase: -risk manager

Control techniques are "similar" in concept to management,i.e. ,they vary by hierarchical level.

When controls and the need for them are consistent with the organization's values,the controls will be:

After standards are established,managers must measure actual performance to determine variation from standard.

Controlling effects and is effected by all other management functions.

Management: An Overview

Management Thought: Past and Present

The Managers Environment

Planning and Strategy

Managements Commitments to Quality and Productivity

Making Decisions

Organizing Principles

Organizational Design, Culture, and Change

Management Ethics and Social Responsibility

Staffing the Workforce

Communication: Interpersonal and Organizational

Human Motivation

Leadership

Team Management and Conflict

Information Management Systems

Filters