Exam 12: Evaluation and Control

The balanced scorecard combines financial measures that tell the results of actions already taken with operational measures on customer satisfaction,internal processes,and the corporation's innovation and improvement activities.

The inventory turnover ratio is an example of a(n)

ABC accounting allows accountants to charge costs more accurately than the traditional method because it allocates overhead far more precisely.

ERP unites all of a company's major business activities,from order processing to production,within a single family of software modules.

According to the 80/20 rule,companies should monitor the 20% of the factors that determine 80% of the results.

Which method of matching rewards to the accomplishment of strategic objectives compensates managers for achieving objectives set over a multi-year period?

The end result of activity is known as

Which of the following is a way in which managers can improve their company's or business unit's EVA?

Which of the following is not a reason ERP could fail?

Which of the following is not one of the areas in which goals or objectives should be developed for use in the balanced scorecard approach?

People tend to substitute behaviors that are recognized and rewarded for those behaviors that are ignored,without regard to their contribution to goal accomplishment.

Which type of control specifies what is to be accomplished by focusing on the end result of behaviors through the use of objectives and performance targets or milestones?

Walt Disney Company,Dow Chemical,IBM,and General Motors are just some firms in which top management compensation is ________.

Activity-based costing (ABC)is an accounting method for allocating indirect and fixed costs to individual products or product lines based on the value-added activities going into that product.

A responsibility center which measures resources in dollars without consideration of service or product costs is called a(n)

The comparison of the expected cost of production against the actual cost of production typically occurs in the

Return on investment (ROI)is the most widely used measure of performance in what responsibility center?

One example of a steering control used by retail stores is the inventory turnover ratio,which shows how hard an investment in inventory is working.

Activity-based costing is a method of accounting which is very useful in making outsourcing decisions by doing

Benchmarking involves openly learning how others do something better than one's own company so that one not only can imitate,but perhaps even improve on their current techniques.