Question 1

Output standards differ from input standards in that output standards measure _____.

Accepted Answer

A)  work efforts 
B)  actual outcomes 
C)  efficiency in the use of resources 
D)  conformance with rules 
E)  work attendance 
A)  work efforts 
B)  actual outcomes 
C)  efficiency in the use of resources 
D)  conformance with rules 
E)  work attendance

Question 2

Preliminary control is also known as steering control.

Accepted Answer

A) True 
 B)False

Question 3

The second step in the control process is to set the performance objectives and standards.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following ratios is also known as acid test?

Accepted Answer

A)  Current Ratio 
B)  Debt Ratio 
C)  Asset Turnover Ratio 
D)  Inventory Turnover Ratio 
E)  Quick Ratio 
A)  Current Ratio 
B)  Debt Ratio 
C)  Asset Turnover Ratio 
D)  Inventory Turnover Ratio 
E)  Quick Ratio

Question 5

According to financial controls,liquidity measures _____.

Accepted Answer

A)  the ability to meet short-term obligations 
B)  the use of debt 
C)  asset and inventory efficiency 
D)  the ability to earn revenues greater than costs 
E)  the ability to operate at minimum cost 
A)  the ability to meet short-term obligations 
B)  the use of debt 
C)  asset and inventory efficiency 
D)  the ability to earn revenues greater than costs 
E)  the ability to operate at minimum cost

Question 6

Business firms show the influence of market control in the way that they adjust products,pricing,promotions,and other practices in response to customer feedback and what competitors are doing.

Accepted Answer

A) True 
 B)False

Question 7

Bill,a finance manager at Iridium Inc.,desires to understand why the company's profitability fell in the past 6 months.He must use _____ to understand this issue.

Accepted Answer

A)  CPM statement 
B)  balanced scorecard 
C)  PERT chart 
D)  breakeven analysis account 
E)  income statement 
A)  CPM statement 
B)  balanced scorecard 
C)  PERT chart 
D)  breakeven analysis account 
E)  income statement

Question 8

_____ is essentially the influence of customers and competition on the behavior of organizations and their members.

Accepted Answer

A)  Normative control 
B)  Market control 
C)  Clan control 
D)  Bureaucratic control 
E)  Administrative control 
A)  Normative control 
B)  Market control 
C)  Clan control 
D)  Bureaucratic control 
E)  Administrative control

Question 9

Through _____ control,managers can manage in ways that allow and expect people to control their own behavior.

Accepted Answer

A)  normative 
B)  internal 
C)  regulatory 
D)  clan 
E)  bureaucratic 
A)  normative 
B)  internal 
C)  regulatory 
D)  clan 
E)  bureaucratic

Question 10

Bake-It,a Spanish bread and biscuits producer,gave out a free batch of cookies to a few customers.These customers were then asked for suggestions to improve the cookies in terms of quality,taste,and variety.Which of the following types of control was implemented by Bake-It?

Accepted Answer

A)  Feedback control 
B)  Steering control 
C)  Feedforward control 
D)  Concurrent control 
E)  Preliminary control 
A)  Feedback control 
B)  Steering control 
C)  Feedforward control 
D)  Concurrent control 
E)  Preliminary control

Question 11

Managers rely on _____ to perform what-if calculations under different projected cost and revenue conditions.

Accepted Answer

A)  CPM/PERT 
B)  Gantt charts 
C)  critical path method 
D)  breakeven analysis 
E)  just-in-time scheduling 
A)  CPM/PERT 
B)  Gantt charts 
C)  critical path method 
D)  breakeven analysis 
E)  just-in-time scheduling

Question 12

The potential for _____ is enhanced when capable people have a clear sense of organizational mission,know their goals,and have the resources necessary to do their jobs well.

Accepted Answer

A)  bureaucratic control 
B)  normative control 
C)  regulatory control 
D)  clan control 
E)  internal control 
A)  bureaucratic control 
B)  normative control 
C)  regulatory control 
D)  clan control 
E)  internal control

Question 13

Calculate return on assets from the following information:
Net income $1,800,000
Current Assets $350,000
Land and building $250,000

Accepted Answer

A)  1:1 
B)  3:2 
C)  4:1 
D)  2:2 
E)  3:1 
A)  1:1 
B)  3:2 
C)  4:1 
D)  2:2 
E)  3:1

Question 14

Which of the following statements is true about the first step of the control process?

Accepted Answer

A)  It involves the identification of key results that one wants to accomplish, by the performance objectives. 
B)  It first involves the identification of the standards of measuring performance and then the identification of key results. 
C)  It identifies the point where output standards and input standards are used to carefully document results. 
D)  It involves relative comparisons that benchmark performance against that being achieved by other people, work units, or organizations. 
E)  It focuses attention on substantial differences between actual and desired performance. 
A)  It involves the identification of key results that one wants to accomplish, by the performance objectives. 
B)  It first involves the identification of the standards of measuring performance and then the identification of key results. 
C)  It identifies the point where output standards and input standards are used to carefully document results. 
D)  It involves relative comparisons that benchmark performance against that being achieved by other people, work units, or organizations. 
E)  It focuses attention on substantial differences between actual and desired performance.

Question 15

A manager spots and corrects problems in the manufacturing cycle.Which of the following types of control does the manager practice?

Accepted Answer

A)  Output control 
B)  Concurrent control 
C)  Preliminary control 
D)  Feedback control 
E)  Post-action control 
A)  Output control 
B)  Concurrent control 
C)  Preliminary control 
D)  Feedback control 
E)  Post-action control

Question 16

Calculate the current ratio from the following information:
Sales = $14,000
Bills receivable = $100,000
Cash in hand = $40,000
Current liabilities = $50,000
Inventories = $40,000
Net Income = $5,600

Accepted Answer

A)  8:5 
B)  3.6:1 
C)  0.4:1 
D)  3:5 
E)  2:3 
A)  8:5 
B)  3.6:1 
C)  0.4:1 
D)  3:5 
E)  2:3

Question 17

Which of the following is true of critical path?

Accepted Answer

A)  It is essential to perform what-if calculations under different projected cost and revenue conditions. 
B)  It acts as the foundation for analysis using financial controls by using the firm's balance sheet and income statement. 
C)  It automatically orders a fixed number of items every time an inventory level falls to a predetermined point. 
D)  It represents the quickest time in which the entire project can be finished, assuming everything goes according to schedule and plans. 
E)  It gives top managers, a fast, but comprehensive view of the business. 
A)  It is essential to perform what-if calculations under different projected cost and revenue conditions. 
B)  It acts as the foundation for analysis using financial controls by using the firm's balance sheet and income statement. 
C)  It automatically orders a fixed number of items every time an inventory level falls to a predetermined point. 
D)  It represents the quickest time in which the entire project can be finished, assuming everything goes according to schedule and plans. 
E)  It gives top managers, a fast, but comprehensive view of the business.

Question 18

Steering controls are largely reactive.

Accepted Answer

A) True 
 B)False

Question 19

Freddie,the CEO of MagTel Inc.,found that employees are wasting time on unproductive tasks.To solve this issue,he measured one of his employees' performances and provided regular feedback.This helped the employee to improve his productivity.In doing so,Freddie found that "what gets measured happens." Therefore,in the context of project management and control,he must use _____ as a managerial review tool to improve financial performance and customer satisfaction of his company.

Accepted Answer

A)  debt equity ratio 
B)  balanced scorecards 
C)  breakeven analysis 
D)  just-in-time technique 
E)  critical path analysis 
A)  debt equity ratio 
B)  balanced scorecards 
C)  breakeven analysis 
D)  just-in-time technique 
E)  critical path analysis

Question 20

Dillon,a senior operations manager,was assigned the task of implementing the control process for a particular production process.He first identified the performance objectives and in doing so,he identified the key results that were to be accomplished.Next,he set standards and measured the actual performance.He compared the results with the objectives and standards.Finally,as part of the corrective action step,he implemented _____,a practice that involved focusing attention on substantial differences between the actual and desired performances.

Accepted Answer

A)  economic order quantity 
B)  just-in-time scheduling 
C)  management by exception 
D)  breakeven analysis 
E)  critical path method 
A)  economic order quantity 
B)  just-in-time scheduling 
C)  management by exception 
D)  breakeven analysis 
E)  critical path method

Output standards differ from input standards in that output standards measure _____.

Preliminary control is also known as steering control.

The second step in the control process is to set the performance objectives and standards.

Which of the following ratios is also known as acid test?

According to financial controls,liquidity measures _____.

Business firms show the influence of market control in the way that they adjust products,pricing,promotions,and other practices in response to customer feedback and what competitors are doing.

Bill,a finance manager at Iridium Inc.,desires to understand why the company's profitability fell in the past 6 months.He must use _____ to understand this issue.

_____ is essentially the influence of customers and competition on the behavior of organizations and their members.

Through _____ control,managers can manage in ways that allow and expect people to control their own behavior.

Bake-It,a Spanish bread and biscuits producer,gave out a free batch of cookies to a few customers.These customers were then asked for suggestions to improve the cookies in terms of quality,taste,and variety.Which of the following types of control was implemented by Bake-It?

Managers rely on _____ to perform what-if calculations under different projected cost and revenue conditions.

The potential for _____ is enhanced when capable people have a clear sense of organizational mission,know their goals,and have the resources necessary to do their jobs well.

Calculate return on assets from the following information: Net income $1,800,000 Current Assets $350,000 Land and building $250,000

Which of the following statements is true about the first step of the control process?

A manager spots and corrects problems in the manufacturing cycle.Which of the following types of control does the manager practice?

Calculate the current ratio from the following information: Sales = $14,000 Bills receivable = $100,000 Cash in hand = $40,000 Current liabilities = $50,000 Inventories = $40,000 Net Income = $5,600

Which of the following is true of critical path?

Steering controls are largely reactive.

Introducing Management

Management Learning Past to Present

Ethics and Social Responsibility

Environment, innovation, and Sustainability

Global Management and Cultural Diversity

Entrepreneurship and New Ventures

Information and Decision Making

Planning Processes and Techniques

Strategy and Strategic Management

Organization Structures and Design

Organization Culture and Change

Human Resource Management

Leading and Leadership Development

Individual Behavior

Motivation Theory and Practice

Teams and Teamwork

Communication and Collaboration

Filters

Exam 9: Control Processes and Systems

Output standards differ from input standards in that output standards measure _____.

Preliminary control is also known as steering control.

The second step in the control process is to set the performance objectives and standards.

Which of the following ratios is also known as acid test?

According to financial controls,liquidity measures _____.

Business firms show the influence of market control in the way that they adjust products,pricing,promotions,and other practices in response to customer feedback and what competitors are doing.

Bill,a finance manager at Iridium Inc.,desires to understand why the company's profitability fell in the past 6 months.He must use _____ to understand this issue.

_____ is essentially the influence of customers and competition on the behavior of organizations and their members.

Through _____ control,managers can manage in ways that allow and expect people to control their own behavior.

Bake-It,a Spanish bread and biscuits producer,gave out a free batch of cookies to a few customers.These customers were then asked for suggestions to improve the cookies in terms of quality,taste,and variety.Which of the following types of control was implemented by Bake-It?

Managers rely on _____ to perform what-if calculations under different projected cost and revenue conditions.

The potential for _____ is enhanced when capable people have a clear sense of organizational mission,know their goals,and have the resources necessary to do their jobs well.

Calculate return on assets from the following information: Net income $1,800,000 Current Assets $350,000 Land and building $250,000

Which of the following statements is true about the first step of the control process?

A manager spots and corrects problems in the manufacturing cycle.Which of the following types of control does the manager practice?

Calculate the current ratio from the following information: Sales = $14,000 Bills receivable = $100,000 Cash in hand = $40,000 Current liabilities = $50,000 Inventories = $40,000 Net Income = $5,600

Which of the following is true of critical path?

Steering controls are largely reactive.

Introducing Management

Management Learning Past to Present

Ethics and Social Responsibility

Environment, innovation, and Sustainability

Global Management and Cultural Diversity

Entrepreneurship and New Ventures

Information and Decision Making

Planning Processes and Techniques

Strategy and Strategic Management

Organization Structures and Design

Organization Culture and Change

Human Resource Management

Leading and Leadership Development

Individual Behavior

Motivation Theory and Practice

Teams and Teamwork

Communication and Collaboration

Filters