Question 1

The World Resources Institute has defined:

Accepted Answer

A) Types of cost management. 
B) Categories for environmental performance indicators. 
C) Methods for achieving sustainability. 
D) Categories for economic performance indicators. 
A) Types of cost management. 
B) Categories for environmental performance indicators. 
C) Methods for achieving sustainability. 
D) Categories for economic performance indicators.

Question 2

In terms of strategic cost management for not-for-profit organizations,which of the following is false?

Accepted Answer

A) Not-for-profit organizations can benefit from strategic cost management since they must prove their effectiveness and efficiency to a number of different stakeholders. 
B) The balanced scorecard can be used to measure the organization's performance. 
C) Value chain analysis can be used for analyzing the organization's product design,product testing,advertising,and production processes. 
D) SWOT analysis is most helpful for non-profit organizations when it deals with the organization's competitive threats,opportunities,and critical success factors. 
A) Not-for-profit organizations can benefit from strategic cost management since they must prove their effectiveness and efficiency to a number of different stakeholders. 
B) The balanced scorecard can be used to measure the organization's performance. 
C) Value chain analysis can be used for analyzing the organization's product design,product testing,advertising,and production processes. 
D) SWOT analysis is most helpful for non-profit organizations when it deals with the organization's competitive threats,opportunities,and critical success factors.

Question 3

Gordon Manufacturing produces high-end furniture products for the luxury hotel industry.Gordon has succeeded through excellence in design,careful attention to detail in manufacturing and in customer service,and through continuous product innovation.The manufacturing process at Gordon begins with a close consultation with each customer so that the finished product exactly meets the customer's specifications.This commonly means unique designs,special fabrics,and high levels of manufacturing quality.In addition,Gordon believes that a key competitive edge it has over other competitors is that it has an outstanding design staff that is able to work with customers to come up with product designs that go beyond the customer's expectations.
Required: What is the competitive strategy for Gordon Manufacturing? Explain your answer in two or three sentences.

Accepted Answer

Because the emphasis of the company is o

Question 4

The decline of the U.S.dollar relative to other currencies has caused firms outside the U.S. ,such as BMW and Volkswagen to:

Accepted Answer

A) Experience increasing sales in the U.S. 
B) Experience increasing sales worldwide. 
C) Locate plants in the U.S.to reduce overall manufacturing costs. 
D) Require dealers to make payments in the Euro. 
A) Experience increasing sales in the U.S. 
B) Experience increasing sales worldwide. 
C) Locate plants in the U.S.to reduce overall manufacturing costs. 
D) Require dealers to make payments in the Euro.

Question 5

A local pharmaceutical firm has just announced its discovery of a revolutionary new drug for dieting.However,due to its deteriorating relationship with its union,the unionized portions of the company's employees have threatened to strike.In addition,the company's stock has started to drop due to the firm's difficulty in paying off some of its debt.In this example,what was the firm's core competency(ies)?

Accepted Answer

A) Its research and development. 
B) Its human resources abilities. 
C) Its financing activities. 
D) Its operating activities. 
A) Its research and development. 
B) Its human resources abilities. 
C) Its financing activities. 
D) Its operating activities.

Question 6

Over the past several years it has become increasingly important for firms to improve achievement towards their social and environmental responsibilities.What is the best way the management accountant can help the firm improve on sustainability?

Accepted Answer

A) Participate in programs of environmental organizations. 
B) Develop and implement a legal staff and public relations staff for dealing with sustainability issues that may affect the firm. 
C) Develop and implement a sustainability scorecard. 
D) Risk management. 
A) Participate in programs of environmental organizations. 
B) Develop and implement a legal staff and public relations staff for dealing with sustainability issues that may affect the firm. 
C) Develop and implement a sustainability scorecard. 
D) Risk management.

Question 7

Patagonia,maker of clothing and gear for outdoor enthusiasts,is very conscious of sustainability issues.The company chose not to produce a product because:

Accepted Answer

A) The cost of manufacturing the product exceeded its target cost. 
B) There was not sufficient demand for the product at the planned price. 
C) The environmental impact of toxic waste was unacceptable. 
D) The environmental impact of producing the product in terms of carbon emissions and energy consumptions was unacceptable. 
E) The company could not justify adding another product when there were acceptable alternatives already in the company's product offerings. 
A) The cost of manufacturing the product exceeded its target cost. 
B) There was not sufficient demand for the product at the planned price. 
C) The environmental impact of toxic waste was unacceptable. 
D) The environmental impact of producing the product in terms of carbon emissions and energy consumptions was unacceptable. 
E) The company could not justify adding another product when there were acceptable alternatives already in the company's product offerings.

Question 8

Some of the indicators of a growing concern for sustainability include:

Accepted Answer

A) The liquidity crisis and sub-prime loan scandals. 
B) The global economic recession. 
C) The increased use of value chain analysis. 
D) The increased concern about global warming. 
E) The increased use of the balanced scorecard. 
A) The liquidity crisis and sub-prime loan scandals. 
B) The global economic recession. 
C) The increased use of value chain analysis. 
D) The increased concern about global warming. 
E) The increased use of the balanced scorecard.

Question 9

Which of the following is not a key benefit of the balanced scorecard (BSC)?

Accepted Answer

A) It provides a means for implementing strategy. 
B) It provides an objective basis for determining each manager's compensation and advancement. 
C) It provides a framework for the firm to achieve a desired organizational change in strategy. 
D) It provides a baseline for how a firm's financial operations compare to competition within the industry. 
A) It provides a means for implementing strategy. 
B) It provides an objective basis for determining each manager's compensation and advancement. 
C) It provides a framework for the firm to achieve a desired organizational change in strategy. 
D) It provides a baseline for how a firm's financial operations compare to competition within the industry.

Question 10

Which one of the following critical success customer factors is best measured by warranty expense?

Accepted Answer

A) Quality. 
B) Dealer and distributor efficiency and effectiveness. 
C) Timeliness of delivery. 
D) Customer satisfaction. 
A) Quality. 
B) Dealer and distributor efficiency and effectiveness. 
C) Timeliness of delivery. 
D) Customer satisfaction.

Question 11

The balanced scorecard:

Accepted Answer

A) Is not comprehensive,since it doesn't include all the CSFs which contribute to competitive success. 
B) Helps focus managers' attention to bottom line profits. 
C) Is forward looking,stressing nonfinancial measures that can lead to benefits in the future. 
D) Fails to reflect environmental and social effects of the firm's operations. 
E) Is heavily weighted toward the financial critical success factors (CSFs). 
A) Is not comprehensive,since it doesn't include all the CSFs which contribute to competitive success. 
B) Helps focus managers' attention to bottom line profits. 
C) Is forward looking,stressing nonfinancial measures that can lead to benefits in the future. 
D) Fails to reflect environmental and social effects of the firm's operations. 
E) Is heavily weighted toward the financial critical success factors (CSFs).

Question 12

Using value-chain analysis,a firm can develop a competitive advantage by specifically looking for ways to:

Accepted Answer

A) Add value and reduce cost. 
B) Improve manufacturing productivity. 
C) Improve customer service. 
D) Improve product quality. 
E) Reduce organizational risk. 
A) Add value and reduce cost. 
B) Improve manufacturing productivity. 
C) Improve customer service. 
D) Improve product quality. 
E) Reduce organizational risk.

Question 13

To increase profitability,technology companies such as IBM have shifted their strategic focus toward:

Accepted Answer

A) Increasing equipment sales. 
B) Improving software applications. 
C) Providing new and enhanced customer services. 
D) Increased focus on research and development. 
A) Increasing equipment sales. 
B) Improving software applications. 
C) Providing new and enhanced customer services. 
D) Increased focus on research and development.

The World Resources Institute has defined:

In terms of strategic cost management for not-for-profit organizations,which of the following is false?

The decline of the U.S.dollar relative to other currencies has caused firms outside the U.S. ,such as BMW and Volkswagen to:

Over the past several years it has become increasingly important for firms to improve achievement towards their social and environmental responsibilities.What is the best way the management accountant can help the firm improve on sustainability?

Patagonia,maker of clothing and gear for outdoor enthusiasts,is very conscious of sustainability issues.The company chose not to produce a product because:

Some of the indicators of a growing concern for sustainability include:

Which of the following is not a key benefit of the balanced scorecard (BSC)?

Which one of the following critical success customer factors is best measured by warranty expense?

The balanced scorecard:

Using value-chain analysis,a firm can develop a competitive advantage by specifically looking for ways to:

To increase profitability,technology companies such as IBM have shifted their strategic focus toward:

Cost Management and Strategy

Basic Cost Management Concepts

Job Costing

Activity-Based Costing and Customer Profitability Analysis

Process Costing

Cost Allocation: Departments, Joint Products, and By-Products

Cost Estimation

Profit Planning: Cost-Volume-Profit Analysis

Strategy and the Master Budget

Decision Making With a Strategic Emphasis

Strategy and the Analysis of Capital Investments

Cost Planning for the Product Life Cycle: Target Costing,Theory of Constraints,and Strategic Pricing

Operational Performance Measurement: Sales and Direct-Cost Variances, and the Role of Nonfinancial Performance Measures

Operational Performance Measurement: Indirect-Cost Variances and Resource- Capacity Management

Operational Performance Measurement: Further Analysis of Productivity and Sales

The Management and Control of Quality

Strategic Performance Measurement: Cost Centers, Profit Centers, and the Balanced Scorecard

Strategic Performance Measurement: Investment Centers

Management Compensation, Business Analysis, and Business Valuation

Filters

Exam 2: Implementing Strategy: The Value Chain, the Balanced Scorecard, and the Strategy Map

The World Resources Institute has defined:

In terms of strategic cost management for not-for-profit organizations,which of the following is false?

The decline of the U.S.dollar relative to other currencies has caused firms outside the U.S. ,such as BMW and Volkswagen to:

Over the past several years it has become increasingly important for firms to improve achievement towards their social and environmental responsibilities.What is the best way the management accountant can help the firm improve on sustainability?

Patagonia,maker of clothing and gear for outdoor enthusiasts,is very conscious of sustainability issues.The company chose not to produce a product because:

Some of the indicators of a growing concern for sustainability include:

Which of the following is not a key benefit of the balanced scorecard (BSC)?

Which one of the following critical success customer factors is best measured by warranty expense?

The balanced scorecard:

Using value-chain analysis,a firm can develop a competitive advantage by specifically looking for ways to:

To increase profitability,technology companies such as IBM have shifted their strategic focus toward:

Cost Management and Strategy

Basic Cost Management Concepts

Job Costing

Activity-Based Costing and Customer Profitability Analysis

Process Costing

Cost Allocation: Departments, Joint Products, and By-Products

Cost Estimation

Profit Planning: Cost-Volume-Profit Analysis

Strategy and the Master Budget

Decision Making With a Strategic Emphasis

Strategy and the Analysis of Capital Investments

Cost Planning for the Product Life Cycle: Target Costing,Theory of Constraints,and Strategic Pricing

Operational Performance Measurement: Sales and Direct-Cost Variances, and the Role of Nonfinancial Performance Measures

Operational Performance Measurement: Indirect-Cost Variances and Resource- Capacity Management

Operational Performance Measurement: Further Analysis of Productivity and Sales

The Management and Control of Quality

Strategic Performance Measurement: Cost Centers, Profit Centers, and the Balanced Scorecard

Strategic Performance Measurement: Investment Centers

Management Compensation, Business Analysis, and Business Valuation

Filters