Question 1

An organization's current liabilities are $40,000 and current assets are $120,000;therefore,the firm's current ratio is ____________.

Accepted Answer

A) 4 to 1 
B) 3.1 to 1 
C) 8 to 1 
D) 3 to 1 
A) 4 to 1 
B) 3.1 to 1 
C) 8 to 1 
D) 3 to 1

Question 2

If a manager wanted to spot check inventory over an extended period of time and then make plans for needed changes,he/she would use ____________ ratios.

Accepted Answer

A) profitability 
B) debt 
C) activity 
D) current 
A) profitability 
B) debt 
C) activity 
D) current

Question 3

Objectives are determined during the controlling function.

Accepted Answer

A) True 
 B)False

Question 4

Quality must be a core value within an organization's culture.

Accepted Answer

A) True 
 B)False

Question 5

Standards and the controls they are part of usually focus on measuring and monitoring productivity and quality.

Accepted Answer

A) True 
 B)False

Question 6

Finance,marketing,and human resources do not require control techniques.

Accepted Answer

A) True 
 B)False

Question 7

Assets = Debt(s)+ Capital Expenditures

Accepted Answer

A) True 
 B)False

Question 8

Receiving an annual flu shot is an example of a feedforward control.

Accepted Answer

A) True 
 B)False

Question 9

Match the options below with the correct phrases:
-control process

Accepted Answer

A) an area of operations that directly affects the survival of a firm and the success of its most essential activities 
B) feedforward, concurrent, and feedback controls 
C) a control that focuses on results 
D) a guideline or benchmark for measurement 
E) in-process controls (during the "event")
F)a control that prevents defects
G)the process through which standards for the performance of people and processes are applied
H)establishing performance standards, measuring performance, comparing measured performance to established standards, and taking corrective action 
A) an area of operations that directly affects the survival of a firm and the success of its most essential activities 
B) feedforward, concurrent, and feedback controls 
C) a control that focuses on results 
D) a guideline or benchmark for measurement 
E) in-process controls (during the "event")
F)a control that prevents defects
G)the process through which standards for the performance of people and processes are applied
H)establishing performance standards, measuring performance, comparing measured performance to established standards, and taking corrective action

Question 10

Match the options below with the correct phrases:
-feedback control

Accepted Answer

A) an area of operations that directly affects the survival of a firm and the success of its most essential activities 
B) feedforward, concurrent, and feedback controls 
C) a control that focuses on results 
D) a guideline or benchmark for measurement 
E) in-process controls (during the "event")
F)a control that prevents defects
G)the process through which standards for the performance of people and processes are applied
H)establishing performance standards, measuring performance, comparing measured performance to established standards, and taking corrective action 
A) an area of operations that directly affects the survival of a firm and the success of its most essential activities 
B) feedforward, concurrent, and feedback controls 
C) a control that focuses on results 
D) a guideline or benchmark for measurement 
E) in-process controls (during the "event")
F)a control that prevents defects
G)the process through which standards for the performance of people and processes are applied
H)establishing performance standards, measuring performance, comparing measured performance to established standards, and taking corrective action

Question 11

The initial step of the control process is ____________.

Accepted Answer

A) measuring performance 
B) establishing standards 
C) comparing performance to standards 
D) taking corrective action 
A) measuring performance 
B) establishing standards 
C) comparing performance to standards 
D) taking corrective action

Question 12

The strategic goals and plans made at the top level in an organization are derived from the organization's:

Accepted Answer

A) purpose and mission. 
B) single-use plans. 
C) standing plans. 
D) operating employee's. 
A) purpose and mission. 
B) single-use plans. 
C) standing plans. 
D) operating employee's.

Question 13

Controls that focus on "after the fact" are called ____________ controls.

Accepted Answer

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

Question 14

A control mechanism that focuses on continuous incremental quality improvement is ____________.

Accepted Answer

A) quality measure 
B) QA 
C) QM 
D) total quality management 
A) quality measure 
B) QA 
C) QM 
D) total quality management

Question 15

A sources and uses of funds statement is often called a ____________.

Accepted Answer

A) net income/loss statement 
B) cash flow statement 
C) liquidity statement 
D) statement of assets and liabilities 
A) net income/loss statement 
B) cash flow statement 
C) liquidity statement 
D) statement of assets and liabilities

Question 16

Within the control process,variations from standards will initially appear during the phase of ____________.

Accepted Answer

A) establishing standards 
B) measuring performance 
C) comparing performance to standard 
D) taking corrective action 
A) establishing standards 
B) measuring performance 
C) comparing performance to standard 
D) taking corrective action

Question 17

All of the following accounting elements are found on the income statement, except ____________.

Accepted Answer

A) revenue 
B) operating expenses 
C) net income 
D) liabilities 
A) revenue 
B) operating expenses 
C) net income 
D) liabilities

Question 18

Establishing performance standards is the last step in the control process.

Accepted Answer

A) True 
 B)False

Question 19

Bottom-up budgeting is also known as grassroots budgeting.

Accepted Answer

A) True 
 B)False

Question 20

Zero-based budgeting is an ongoing,indefinite process.

Accepted Answer

A) True 
 B)False

An organization's current liabilities are $40,000 and current assets are $120,000;therefore,the firm's current ratio is ____________.

If a manager wanted to spot check inventory over an extended period of time and then make plans for needed changes,he/she would use ____________ ratios.

Objectives are determined during the controlling function.

Quality must be a core value within an organization's culture.

Standards and the controls they are part of usually focus on measuring and monitoring productivity and quality.

Finance,marketing,and human resources do not require control techniques.

Assets = Debt(s)+ Capital Expenditures

Receiving an annual flu shot is an example of a feedforward control.

Match the options below with the correct phrases: -control process

Match the options below with the correct phrases: -feedback control

The initial step of the control process is ____________.

The strategic goals and plans made at the top level in an organization are derived from the organization's:

Controls that focus on "after the fact" are called ____________ controls.

A control mechanism that focuses on continuous incremental quality improvement is ____________.

A sources and uses of funds statement is often called a ____________.

Within the control process,variations from standards will initially appear during the phase of ____________.

All of the following accounting elements are found on the income statement, except ____________.

Establishing performance standards is the last step in the control process.

Bottom-up budgeting is also known as grassroots budgeting.

Zero-based budgeting is an ongoing,indefinite process.

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

An organization's current liabilities are $40,000 and current assets are $120,000;therefore,the firm's current ratio is ____________.

If a manager wanted to spot check inventory over an extended period of time and then make plans for needed changes,he/she would use ____________ ratios.

Objectives are determined during the controlling function.

Quality must be a core value within an organization's culture.

Standards and the controls they are part of usually focus on measuring and monitoring productivity and quality.

Finance,marketing,and human resources do not require control techniques.

Assets = Debt(s)+ Capital Expenditures

Receiving an annual flu shot is an example of a feedforward control.

Match the options below with the correct phrases: -control process

Match the options below with the correct phrases: -feedback control

The initial step of the control process is ____________.

The strategic goals and plans made at the top level in an organization are derived from the organization's:

Controls that focus on "after the fact" are called ____________ controls.

A control mechanism that focuses on continuous incremental quality improvement is ____________.

A sources and uses of funds statement is often called a ____________.

Within the control process,variations from standards will initially appear during the phase of ____________.

All of the following accounting elements are found on the income statement, except ____________.

Establishing performance standards is the last step in the control process.

Bottom-up budgeting is also known as grassroots budgeting.

Zero-based budgeting is an ongoing,indefinite process.

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