Question 1

Match the options below with the correct phrase:
-just in time

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 2

One approach to human asset valuation is ____________.

Accepted Answer

A) attempts to assign a dollar value to each employee's contribution to the company's profit 
B) uses cost centers 
C) creates cash budgets 
D) requires outside auditors to monitor employee performances 
A) attempts to assign a dollar value to each employee's contribution to the company's profit 
B) uses cost centers 
C) creates cash budgets 
D) requires outside auditors to monitor employee performances

Question 3

The amount of output achieved from the use of a given amount of inputs is __________.

Accepted Answer

A) productivity. 
B) benchmarking. 
C) performance control. 
D) standardization. 
A) productivity. 
B) benchmarking. 
C) performance control. 
D) standardization.

Question 4

Resources owned by a business are known as ____________.

Accepted Answer

A) assets 
B) returns and allowances 
C) costs 
D) debts 
A) assets 
B) returns and allowances 
C) costs 
D) debts

Question 5

Financial organizational audits are usually informal.

Accepted Answer

A) True 
 B)False

Question 6

Liabilities are financial obligations that are also referred to as ____________.

Accepted Answer

A) asset commitments 
B) bad faith situations 
C) current bills 
D) debts 
A) asset commitments 
B) bad faith situations 
C) current bills 
D) debts

Question 7

The accounting balance sheet "equation" is ____________.

Accepted Answer

A) assets = liabilities + short-term debts 
B) assets - liabilities = expenses 
C) assets = liabilities + stockholders' equity 
D) income - expenses = profit or loss 
A) assets = liabilities + short-term debts 
B) assets - liabilities = expenses 
C) assets = liabilities + stockholders' equity 
D) income - expenses = profit or loss

Question 8

Controls are self sufficient;they do not have to be examined or reexamined for efficiency.

Accepted Answer

A) True 
 B)False

Question 9

Match the options below with the correct phrase:
-audit

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 10

Match the options below with the correct phrase:
-human asset accounting

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

Changing the engine oil and oil filter every 3,000 to 5,000 miles in a passenger car is a ____________ control.

Accepted Answer

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

Question 12

Demographic data relate to cultural origin,religion,political philosophy,and personal interests.

Accepted Answer

A) True 
 B)False

Question 13

Computer monitoring of customer service telephone calls is an example of which type of control?

Accepted Answer

A) feedforward 
B) optional 
C) feedback 
D) concurrent 
A) feedforward 
B) optional 
C) feedback 
D) concurrent

Question 14

Often an employee can follow ____________ when they must take corrective action to prevent further defects.

Accepted Answer

A) quality manuals 
B) leadership influence 
C) policies and procedures 
D) QA 
A) quality manuals 
B) leadership influence 
C) policies and procedures 
D) QA

Question 15

Examples of feedforward controls include ____________ controls.

Accepted Answer

A) therapeutic 
B) backlash 
C) diagnostic 
D) prevention 
A) therapeutic 
B) backlash 
C) diagnostic 
D) prevention

Question 16

Match the options below with the correct phrases:
-controlling

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 17

Standards are either qualitative or quantitative measuring devices.

Accepted Answer

A) True 
 B)False

Question 18

The concept that measurements provided by the control process will reach the proper decision makers when they are needed is the concept of:

Accepted Answer

A) concurrent. 
B) integration. 
C) timeliness. 
D) accuracy. 
A) concurrent. 
B) integration. 
C) timeliness. 
D) accuracy.

Question 19

Match the options below with the correct phrase:
-six sigma

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 20

A financial responsibility center is an organizational unit that contributes to an organization's costs,revenues,investments,or profits.

Accepted Answer

A) True 
 B)False

Match the options below with the correct phrase: -just in time

One approach to human asset valuation is ____________.

The amount of output achieved from the use of a given amount of inputs is __________.

Resources owned by a business are known as ____________.

Financial organizational audits are usually informal.

Liabilities are financial obligations that are also referred to as ____________.

The accounting balance sheet "equation" is ____________.

Controls are self sufficient;they do not have to be examined or reexamined for efficiency.

Match the options below with the correct phrase: -audit

Match the options below with the correct phrase: -human asset accounting

Changing the engine oil and oil filter every 3,000 to 5,000 miles in a passenger car is a ____________ control.

Demographic data relate to cultural origin,religion,political philosophy,and personal interests.

Computer monitoring of customer service telephone calls is an example of which type of control?

Often an employee can follow ____________ when they must take corrective action to prevent further defects.

Examples of feedforward controls include ____________ controls.

Match the options below with the correct phrases: -controlling

Standards are either qualitative or quantitative measuring devices.

The concept that measurements provided by the control process will reach the proper decision makers when they are needed is the concept of:

Match the options below with the correct phrase: -six sigma

A financial responsibility center is an organizational unit that contributes to an organization's costs,revenues,investments,or profits.

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

Match the options below with the correct phrase: -just in time

One approach to human asset valuation is ____________.

The amount of output achieved from the use of a given amount of inputs is __________.

Resources owned by a business are known as ____________.

Financial organizational audits are usually informal.

Liabilities are financial obligations that are also referred to as ____________.

The accounting balance sheet "equation" is ____________.

Controls are self sufficient;they do not have to be examined or reexamined for efficiency.

Match the options below with the correct phrase: -audit

Match the options below with the correct phrase: -human asset accounting

Changing the engine oil and oil filter every 3,000 to 5,000 miles in a passenger car is a ____________ control.

Demographic data relate to cultural origin,religion,political philosophy,and personal interests.

Computer monitoring of customer service telephone calls is an example of which type of control?

Often an employee can follow ____________ when they must take corrective action to prevent further defects.

Examples of feedforward controls include ____________ controls.

Match the options below with the correct phrases: -controlling

Standards are either qualitative or quantitative measuring devices.

The concept that measurements provided by the control process will reach the proper decision makers when they are needed is the concept of:

Match the options below with the correct phrase: -six sigma

A financial responsibility center is an organizational unit that contributes to an organization's costs,revenues,investments,or profits.

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