Question 1

Traditional methods of accounting such as activity-based costing are still appropriate today.

Accepted Answer

A) True 
 B)False  False

Question 2

An itemized financial statement of the income and expenses of a company's operations is referred to as the

Accepted Answer

A) statement of cash flow. 
B) profit and loss statement. 
C) balance sheet. 
D) expense report. 
E) financial ratio statement. 
A) statement of cash flow. 
B) profit and loss statement. 
C) balance sheet. 
D) expense report. 
E) financial ratio statement. B

Question 3

When employees feel forced to attempt to "beat the system" their behavior might be classified as

Accepted Answer

A) rigidly bureaucratic. 
B) tactical. 
C) resisting. 
D) defensive. 
E) myopic. 
A) rigidly bureaucratic. 
B) tactical. 
C) resisting. 
D) defensive. 
E) myopic. B

Question 4

Which type of control takes place while plans are being carried out?

Accepted Answer

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

Question 5

Scenario C. Suppose you are a middle manager in a biotechnology research firm. The organization has undergone a dramatic transformation over the last few years. Historically, employees had been managed using a wide array of rules, regulations and procedures. Offending employees were punished "after the fact" for their violations. Today, employees are encouraged to make decisions and come up with innovative solutions to problems they discover. Most employees are much more satisfied under the new scenario; they like using their brains. However, you have one employee who is constantly disgruntled and challenges "the new way" at every chance. For example, this employee believes that you should not be his manager because you can't technically perform every job title that you manage. Other than this employee, the group is much more cohesive and is committed not only to the overall success of the organization but to its standards and reputation.
-Which of the following types of control system did this organization most likely use in the past?

Accepted Answer

A) Clan 
B) Market 
C) Bureaucratic 
D) Subjective 
E) Feedforward 
A) Clan 
B) Market 
C) Bureaucratic 
D) Subjective 
E) Feedforward

Question 6

A serious mistake for an entrepreneur is to invest too much time in budgeting.

Accepted Answer

A) True 
 B)False

Question 7

Katrina Calocia is a financial manager at Flavors,Inc. ,a lollipop manufacturer.One of her duties as manager is to provide a budget that shows the anticipated receipts and expenditures of her company.The budget also shows the amount of working capital available and the extent to which outside financing may be required.Katrina produces this budget after all other budget estimates are complete.Which type of budget is Katrina currently working on?

Accepted Answer

A) Master budget 
B) Cash budget 
C) Cost production budget 
D) Production budget 
E) Sales budget 
A) Master budget 
B) Cash budget 
C) Cost production budget 
D) Production budget 
E) Sales budget

Question 8

The __________ is used for areas of the organization that incur expenses but no revenue.

Accepted Answer

A) sales budget 
B) production budget 
C) cost budget 
D) cash budget 
E) master budget 
A) sales budget 
B) production budget 
C) cost budget 
D) cash budget 
E) master budget

Question 9

Liabilities are the amounts accruing to the corporation's owners.

Accepted Answer

A) True 
 B)False

Question 10

Explain the two "Siamese Twins" of management.How does this idea relate to the control function of management?

Accepted Answer

The two "Siamese Twins" of management re

Question 11

Concurrent control takes place while plans are being carried out.

Accepted Answer

A) True 
 B)False

Question 12

Feedforward control means that managers monitor their distributors.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following is the second stage in budgetary control?

Accepted Answer

A) Responding appropriately 
B) Budgetary operations 
C) Comparing Six Sigma data 
D) Establishing expectancies 
E) Accounting audit 
A) Responding appropriately 
B) Budgetary operations 
C) Comparing Six Sigma data 
D) Establishing expectancies 
E) Accounting audit

Question 14

The most common liquidity ratio is current assets to current liabilities,which is also called the

Accepted Answer

A) debt-equity ratio. 
B) current ratio. 
C) profit loss ratio. 
D) return on investment ratio. 
E) stockholders' equity ratio. 
A) debt-equity ratio. 
B) current ratio. 
C) profit loss ratio. 
D) return on investment ratio. 
E) stockholders' equity ratio.

Question 15

Which of the following is the third major step in the formal control process?

Accepted Answer

A) Comparing performance with standards 
B) Setting standards 
C) Taking corrective action 
D) Revising standards 
E) Measuring performance 
A) Comparing performance with standards 
B) Setting standards 
C) Taking corrective action 
D) Revising standards 
E) Measuring performance

Question 16

In contrast to market controls,bureaucratic controls involve the use of economic forces to regulate performance.

Accepted Answer

A) True 
 B)False

Question 17

Describe the various criteria that control systems should meet when designed by management.

Accepted Answer

The answer of Describe the various criteria that control systems...

Question 18

The control process used while plans are being carried out,including directing,monitoring and fine-tuning activities as they are performed is referred to as

Accepted Answer

A) feedforward control. 
B) concurrent control. 
C) feedback control. 
D) budgeting. 
E) market control. 
A) feedforward control. 
B) concurrent control. 
C) feedback control. 
D) budgeting. 
E) market control.

Question 19

Bureaucratic control deals with

Accepted Answer

A) rules and regulations. 
B) market forces. 
C) economic forces. 
D) pricing mechanisms. 
E) social norms. 
A) rules and regulations. 
B) market forces. 
C) economic forces. 
D) pricing mechanisms. 
E) social norms.

Question 20

AllMax Enterprises has begun a new system of allocating costs according to what their employees do,rather than what the company spends.For example,labor expenses are allocated to employee tasks rather than salary and benefits.This practice is referred to as

Accepted Answer

A) cost accounting. 
B) accounting auditing. 
C) task accounting. 
D) activity-based costing. 
E) allocation costing. 
A) cost accounting. 
B) accounting auditing. 
C) task accounting. 
D) activity-based costing. 
E) allocation costing.

Traditional methods of accounting such as activity-based costing are still appropriate today.

An itemized financial statement of the income and expenses of a company's operations is referred to as the

When employees feel forced to attempt to "beat the system" their behavior might be classified as

Which type of control takes place while plans are being carried out?

A serious mistake for an entrepreneur is to invest too much time in budgeting.

The __________ is used for areas of the organization that incur expenses but no revenue.

Liabilities are the amounts accruing to the corporation's owners.

Explain the two "Siamese Twins" of management.How does this idea relate to the control function of management?

Concurrent control takes place while plans are being carried out.

Feedforward control means that managers monitor their distributors.

Which of the following is the second stage in budgetary control?

The most common liquidity ratio is current assets to current liabilities,which is also called the

Which of the following is the third major step in the formal control process?

In contrast to market controls,bureaucratic controls involve the use of economic forces to regulate performance.

Describe the various criteria that control systems should meet when designed by management.

The control process used while plans are being carried out,including directing,monitoring and fine-tuning activities as they are performed is referred to as

Bureaucratic control deals with

AllMax Enterprises has begun a new system of allocating costs according to what their employees do,rather than what the company spends.For example,labor expenses are allocated to employee tasks rather than salary and benefits.This practice is referred to as

Managing

The External Environment and Organizational Culture

Managerial Decision Making

Planning and Strategic Management

Ethics and Corporate Responsibility

International Management

Entrepreneurship

Organization Structure

Organizational Agility

Human Resources Management

Managing the Diverse Workforce

Leadership

Motivating for Performance

Team-Work

Communicating

Managing Technology and Innovation

Creating and Managing Change

Filters

Exam 16: Managerial Control

Traditional methods of accounting such as activity-based costing are still appropriate today.

An itemized financial statement of the income and expenses of a company's operations is referred to as the

When employees feel forced to attempt to "beat the system" their behavior might be classified as

Which type of control takes place while plans are being carried out?

A serious mistake for an entrepreneur is to invest too much time in budgeting.

The __________ is used for areas of the organization that incur expenses but no revenue.

Liabilities are the amounts accruing to the corporation's owners.

Explain the two "Siamese Twins" of management.How does this idea relate to the control function of management?

Concurrent control takes place while plans are being carried out.

Feedforward control means that managers monitor their distributors.

Which of the following is the second stage in budgetary control?

The most common liquidity ratio is current assets to current liabilities,which is also called the

Which of the following is the third major step in the formal control process?

In contrast to market controls,bureaucratic controls involve the use of economic forces to regulate performance.

Describe the various criteria that control systems should meet when designed by management.

The control process used while plans are being carried out,including directing,monitoring and fine-tuning activities as they are performed is referred to as

Bureaucratic control deals with

AllMax Enterprises has begun a new system of allocating costs according to what their employees do,rather than what the company spends.For example,labor expenses are allocated to employee tasks rather than salary and benefits.This practice is referred to as

Managing

The External Environment and Organizational Culture

Managerial Decision Making

Planning and Strategic Management

Ethics and Corporate Responsibility

International Management

Entrepreneurship

Organization Structure

Organizational Agility

Human Resources Management

Managing the Diverse Workforce

Leadership

Motivating for Performance

Team-Work

Communicating

Managing Technology and Innovation

Creating and Managing Change

Filters