Exam 14: Managing Control Systems, Finances, and People

______________ is necessary when preliminary and concurrent controls have failed.

During the correct or reinforce step of the control systems process, after performance is complete and it is too late to take corrective action to meet the standard, the appropriate corrective actions are to do all of the following, except _________.

__________ is the process of giving motivational feedback to maintain and improve performance.

___________ is the rate of repetition of measures taken to control performance.

An action taken to fix an output is _________.

Because it is focused on continually developing new ways to bring in revenues, the __________ is usually considered the most important budget.

Rework controls are actions taken to minimize negative impacts on customers/stakeholders due to faulty outputs.

The ability to work with budgets and financial statements is a must, if you want to advance and succeed in business.

The major objective of discipline is to change __________.

Sally, the manager at a large restaurant chain, was just given information from the corporate office on how to increase sales in their region.She was given a list of goals for the next quarter.She was the recipient of what step in the control systems process?

The finance __________ is responsible for the budgeting process that results in a master budget for the entire organization.

Which type of budget is generally considered the most important and why?

Clan or group control relies on which of the following?

What would you recommend to someone who is starting to save for retirement with their company's 401 (k) program?

Preliminary control focuses on the __________ stage of the systems process.

Feedback is the central part of coaching, and it should be ____________.

If a company desires to raise capital without selling any ownership in the company, then they should sell stocks rather than bonds.

Professor Lockhart signed a contract at the State University, where he has to teach at least eight classes per year, for which he will be paid an annual salary.He now has to follow which two standards?

The products made by XYZ Corp during the last shift are all missing the bag of screws that should be in each box.What system control needs to be used at this point?

You are the manager of a fast food restaurant.Please give examples of the standards you would set for your employees in the areas of quantity, quality, time, cost, and behavior.