Question 1

A _____ budget is used for the cost of fixed assets, such as plants and equipment, that are usually treated as investments instead of as regular expenses.

Accepted Answer

A) master 
B) cash 
C) capital 
D) production 
E) sales 
A) master 
B) cash 
C) capital 
D) production 
E) sales

Question 2

In large diversified companies, market controls are often used to regulate independent business units.

Accepted Answer

A) True 
 B)False

Question 3

Performance standards can only be set with respect to quantity or quality.

Accepted Answer

A) True 
 B)False

Question 4

On which of the following will Humberto be working?

Accepted Answer

A) Balance sheet 
B) Assets 
C) Liabilities 
D) Stockholders' equity 
E) Profit and loss statement 
A) Balance sheet 
B) Assets 
C) Liabilities 
D) Stockholders' equity 
E) Profit and loss statement

Question 5

After Glennon's restaurant opened, she spent the first two weeks closely correcting any flaws she found in the way the business operated. This is an example of _____ control.

Accepted Answer

A) feedforward 
B) concurrent 
C) clan 
D) market 
E) proactive 
A) feedforward 
B) concurrent 
C) clan 
D) market 
E) proactive

Question 6

A balanced scorecard is a control system combining four sets of performance measures: financial, customer satisfaction, business processes (quality and efficiency), and _____.

Accepted Answer

A) technology 
B) bureaucracy and hierarchy 
C) productivity 
D) efficiency 
E) learning and growth 
A) technology 
B) bureaucracy and hierarchy 
C) productivity 
D) efficiency 
E) learning and growth

Question 7

List the four major steps of a typical control system and describe ways in which each step can be performed.

Accepted Answer

The answer of List the four major steps of a...

Question 8

Management myopia occurs when managers

Accepted Answer

A) lack motivation to reach their performance targets and in turn find it difficult to motivate subordinates. 
B) limit their focus to short-term profits at the expense of longer-term strategic obligations. 
C) find themselves unable to rise beyond a certain level in the organizational hierarchy. 
D) are promoted beyond their level of competence. 
E) find it hard to progress within an organization due to corporate downsizing or paring of middle management layers. 
A) lack motivation to reach their performance targets and in turn find it difficult to motivate subordinates. 
B) limit their focus to short-term profits at the expense of longer-term strategic obligations. 
C) find themselves unable to rise beyond a certain level in the organizational hierarchy. 
D) are promoted beyond their level of competence. 
E) find it hard to progress within an organization due to corporate downsizing or paring of middle management layers.

Question 9

Which of the following is a commonly used source for obtaining performance data?

Accepted Answer

A) Competitors 
B) Human resource department 
C) Written reports 
D) Upper management 
E) Technical analysts from outside the company 
A) Competitors 
B) Human resource department 
C) Written reports 
D) Upper management 
E) Technical analysts from outside the company

Question 10

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 _____ control.

Accepted Answer

A) feedforward 
B) concurrent 
C) feedback 
D) preliminary 
E) market 
A) feedforward 
B) concurrent 
C) feedback 
D) preliminary 
E) market

Question 11

An itemized financial statement of the income and expenses of a company's operations is called the ____.

Accepted Answer

A) statement of financial ratios 
B) balance sheet 
C) cash flow statement 
D) assets and liabilities statement 
E) profit and loss statement 
A) statement of financial ratios 
B) balance sheet 
C) cash flow statement 
D) assets and liabilities statement 
E) profit and loss statement

Question 12

Which of the following control systems does Western Mountains Health Associates utilize?

Accepted Answer

A) Bureaucratic control 
B) Market control 
C) Clan control 
D) Feedforward control 
E) Concurrent control 
A) Bureaucratic control 
B) Market control 
C) Clan control 
D) Feedforward control 
E) Concurrent control

Question 13

Procedures used to verify accounting reports and statements are referred to as ____.

Accepted Answer

A) lean accounting 
B) accounting audits 
C) activity-based costing 
D) accounting reforms 
E) budget audits 
A) lean accounting 
B) accounting audits 
C) activity-based costing 
D) accounting reforms 
E) budget audits

Question 14

Which of the following best describes what a profitability ratio is?

Accepted Answer

A) It shows the relative amount of funds in the business supplied by creditors and shareholders. 
B) It indicates a company's ability to pay short-term debts. 
C) It indicates management's ability to generate a financial return on sales or investment. 
D) It shows the profit margins for the last six months. 
E) It indicates the future profits from the current customer base. 
A) It shows the relative amount of funds in the business supplied by creditors and shareholders. 
B) It indicates a company's ability to pay short-term debts. 
C) It indicates management's ability to generate a financial return on sales or investment. 
D) It shows the profit margins for the last six months. 
E) It indicates the future profits from the current customer base.

Question 15

On which of the following control systems does Agatha want the organization to focus?

Accepted Answer

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

Question 16

Ideally, a transfer price should be _____ the price that the receiving business unit would have to pay in the marketplace.

Accepted Answer

A) somewhat less than 
B) somewhat more than 
C) the same as 
D) at least half 
E) at least twice 
A) somewhat less than 
B) somewhat more than 
C) the same as 
D) at least half 
E) at least twice

Question 17

Martha developed a revised balance sheet for her company. She used the balance sheet to show her company's ______ (the amounts the company owes to various creditors).

Accepted Answer

A) liabilities 
B) assets 
C) budgets 
D) diseconomies 
E) expenses 
A) liabilities 
B) assets 
C) budgets 
D) diseconomies 
E) expenses

Question 18

How does clan control differ from bureaucratic control and market control?

Accepted Answer

A) Clan control uses formal controls more often. 
B) Clan control does not assume that the interests of the organization and individuals naturally diverge. 
C) Clan control is based on past performance, whereas the other two try to influence future performance. 
D) Clan control is based on a more negative view of human character. 
E) Clan control is more heavily based on economic factors. 
A) Clan control uses formal controls more often. 
B) Clan control does not assume that the interests of the organization and individuals naturally diverge. 
C) Clan control is based on past performance, whereas the other two try to influence future performance. 
D) Clan control is based on a more negative view of human character. 
E) Clan control is more heavily based on economic factors.

Question 19

If bureaucratic and market mechanisms are insufficient for directing a company's workforce in today's environment, it can turn to structural control.

Accepted Answer

A) True 
 B)False

Question 20

A report that shows the financial picture of a company at a given time and itemizes assets, liabilities, and stockholders' equity is referred to as a(n) ____.

Accepted Answer

A) profit and loss statement 
B) balance sheet 
C) expense report 
D) income statement 
E) budget report 
A) profit and loss statement 
B) balance sheet 
C) expense report 
D) income statement 
E) budget report

A _____ budget is used for the cost of fixed assets, such as plants and equipment, that are usually treated as investments instead of as regular expenses.

In large diversified companies, market controls are often used to regulate independent business units.

Performance standards can only be set with respect to quantity or quality.

On which of the following will Humberto be working?

After Glennon's restaurant opened, she spent the first two weeks closely correcting any flaws she found in the way the business operated. This is an example of _____ control.

A balanced scorecard is a control system combining four sets of performance measures: financial, customer satisfaction, business processes (quality and efficiency), and _____.

List the four major steps of a typical control system and describe ways in which each step can be performed.

Management myopia occurs when managers

Which of the following is a commonly used source for obtaining performance data?

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 _____ control.

An itemized financial statement of the income and expenses of a company's operations is called the ____.

Which of the following control systems does Western Mountains Health Associates utilize?

Procedures used to verify accounting reports and statements are referred to as ____.

Which of the following best describes what a profitability ratio is?

On which of the following control systems does Agatha want the organization to focus?

Ideally, a transfer price should be _____ the price that the receiving business unit would have to pay in the marketplace.

Martha developed a revised balance sheet for her company. She used the balance sheet to show her company's ______ (the amounts the company owes to various creditors).

How does clan control differ from bureaucratic control and market control?

If bureaucratic and market mechanisms are insufficient for directing a company's workforce in today's environment, it can turn to structural control.

A report that shows the financial picture of a company at a given time and itemizes assets, liabilities, and stockholders' equity is referred to as a(n) ____.

Managing and Performing

The External and Internal Environments

Managerial Decision Making

Planning and Strategic Management

Ethics, Corporate Responsibility, and Sustainability

International Management

Entrepreneurship

Organization Structure

Organizational Agility

Human Resources Management

Managing the Diverse Workforce

Leadership

Motivating for Performance

Teamwork

Communicating

Managing Technology and Innovation

Creating and Leading Change

Filters

Exam 16: Managerial Control

A _____ budget is used for the cost of fixed assets, such as plants and equipment, that are usually treated as investments instead of as regular expenses.

In large diversified companies, market controls are often used to regulate independent business units.

Performance standards can only be set with respect to quantity or quality.

On which of the following will Humberto be working?

After Glennon's restaurant opened, she spent the first two weeks closely correcting any flaws she found in the way the business operated. This is an example of _____ control.

A balanced scorecard is a control system combining four sets of performance measures: financial, customer satisfaction, business processes (quality and efficiency), and _____.

List the four major steps of a typical control system and describe ways in which each step can be performed.

Management myopia occurs when managers

Which of the following is a commonly used source for obtaining performance data?

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 _____ control.

An itemized financial statement of the income and expenses of a company's operations is called the ____.

Which of the following control systems does Western Mountains Health Associates utilize?

Procedures used to verify accounting reports and statements are referred to as ____.

Which of the following best describes what a profitability ratio is?

On which of the following control systems does Agatha want the organization to focus?

Ideally, a transfer price should be _____ the price that the receiving business unit would have to pay in the marketplace.

Martha developed a revised balance sheet for her company. She used the balance sheet to show her company's ______ (the amounts the company owes to various creditors).

How does clan control differ from bureaucratic control and market control?

If bureaucratic and market mechanisms are insufficient for directing a company's workforce in today's environment, it can turn to structural control.

A report that shows the financial picture of a company at a given time and itemizes assets, liabilities, and stockholders' equity is referred to as a(n) ____.

Managing and Performing

The External and Internal Environments

Managerial Decision Making

Planning and Strategic Management

Ethics, Corporate Responsibility, and Sustainability

International Management

Entrepreneurship

Organization Structure

Organizational Agility

Human Resources Management

Managing the Diverse Workforce

Leadership

Motivating for Performance

Teamwork

Communicating

Managing Technology and Innovation

Creating and Leading Change

Filters