Question 1

The firm's financial position with respect to assets and liabilities at a specific point in time is shown by its

Accepted Answer

A)  activity ratio. 
B)  profitability ratio. 
C)  income statement. 
D)  liquidity ratio. 
E)  balance sheet. 
A)  activity ratio. 
B)  profitability ratio. 
C)  income statement. 
D)  liquidity ratio. 
E)  balance sheet.

Question 2

A(n) ____________________ lists forecasted and actual revenues of the organization.

Accepted Answer

The answer of A(n) ____________________ lists forecasted and actual revenues...

Question 3

Scenario - Katrina Aldridge
The yearly auditing review of Pilgrim Industries is scheduled for next month. Katrina Aldridge is preparing for that audit and is also preparing her budget for the coming year.
-Which of these budgets will provide Katrina information about planned investments in major assets like buildings and heavy machinery?

Accepted Answer

A)  Cash budget 
B)  Revenue budget 
C)  Capital budget 
D)  Expense Budget 
E)  Balance-Sheet budget 
A)  Cash budget 
B)  Revenue budget 
C)  Capital budget 
D)  Expense Budget 
E)  Balance-Sheet budget

Question 4

Total quality management

Accepted Answer

A)  is based on the ideas of Frederick Taylor. 
B)  gives managers total responsibility for achieving quality goals. 
C)  gives all employees the responsibility for achieving quality goals. 
D)  was first successfully implemented in the United States. 
E)  all of these. 
A)  is based on the ideas of Frederick Taylor. 
B)  gives managers total responsibility for achieving quality goals. 
C)  gives all employees the responsibility for achieving quality goals. 
D)  was first successfully implemented in the United States. 
E)  all of these.

Question 5

Effectively controlling an organization requires information about product standards and actual products, as well as actions to correct any deviations from the standards.

Accepted Answer

A) True 
 B)False

Question 6

When ____________________ deviates from a(n) ____________________, managers must interpret the deviation.

Accepted Answer

performanc

Question 7

The continuous process of measuring products, services, and practices against major competitors or industry leaders is called ____________________.

Accepted Answer

The answer of The continuous process of measuring products, services,...

Question 8

In a traditional ____________________ approach, budgeted amounts for the coming year are imposed on middle- and lower-level managers.

Accepted Answer

The answer of In a traditional ____________________ approach, budgeted amounts...

Question 9

The fourth step in the control process is comparing actual activities to performance standards.

Accepted Answer

A) True 
 B)False

Question 10

Managers focus on the various elements of the scorecard to set targets, evaluate performance, and guide discussion about what further actions need to be taken.

Accepted Answer

A) True 
 B)False

Question 11

The ____________________ provides three types of information: assets, liabilities, and owners' equity.

Accepted Answer

The answer of The ____________________ provides three types of information:...

Question 12

The ____________________ lists planned investments in major assets such as buildings, trucks, and heavy machinery, often involving expenditures over more than a year.

Accepted Answer

The answer of The ____________________ lists planned investments in major...

Question 13

The use of cultural values, traditions, shared beliefs and trust to increase compliance with goals refers to decentralized control.

Accepted Answer

A) True 
 B)False

Question 14

____________________ refers to the system of governing an organization so that the interests of corporate owners are protected.

Accepted Answer

The answer of ____________________ refers to the system of governing...

Question 15

According to the control model, after establishing standards of performance the manager should

Accepted Answer

A)  compare performance to standards. 
B)  get the standards approved by the supervisors and subordinates. 
C)  measure actual performance. 
D)  take corrective action. 
E)  provide feedback. 
A)  compare performance to standards. 
B)  get the standards approved by the supervisors and subordinates. 
C)  measure actual performance. 
D)  take corrective action. 
E)  provide feedback.

Question 16

The ____ offers some indication of the degree to which various countries are open regarding economic matters.

Accepted Answer

A)  Opacity Index 
B)  Economic Index 
C)  Clarity Index 
D)  National Index 
E)  Foreign Economy Index 
A)  Opacity Index 
B)  Economic Index 
C)  Clarity Index 
D)  National Index 
E)  Foreign Economy Index

Question 17

All well-designed control systems involve the use of ____ to determine whether performance meets established standards.

Accepted Answer

A)  opinions 
B)  advice 
C)  consultants 
D)  benchmarks 
E)  feedback 
A)  opinions 
B)  advice 
C)  consultants 
D)  benchmarks 
E)  feedback

Question 18

The return on total assets (ROA) is an activity ratio that is the percentage returned to investors on total assets.

Accepted Answer

A) True 
 B)False

Question 19

Kyle's work group consistently exceeds the goals the members set for themselves some months ago. In an attempt to better motivate the group, Kyle thought it would be a good idea to set new goals. This is an example of Kyle exercising control by

Accepted Answer

A)  comparing performance to standards. 
B)  developing adequate measures of performance. 
C)  taking corrective action. 
D)  all of these 
E)  comparing performance to standards and developing adequate measures of performance only. 
A)  comparing performance to standards. 
B)  developing adequate measures of performance. 
C)  taking corrective action. 
D)  all of these 
E)  comparing performance to standards and developing adequate measures of performance only.

Question 20

Decentralized control is usually implemented in all of the following areas EXCEPT:

Accepted Answer

A)  self-control. 
B)  peer group. 
C)  corporate culture. 
D)  employee selection and socialization. 
E)  the quality control department. 
A)  self-control. 
B)  peer group. 
C)  corporate culture. 
D)  employee selection and socialization. 
E)  the quality control department.

The firm's financial position with respect to assets and liabilities at a specific point in time is shown by its

A(n) ____________________ lists forecasted and actual revenues of the organization.

Total quality management

Effectively controlling an organization requires information about product standards and actual products, as well as actions to correct any deviations from the standards.

When deviates from a(n) , managers must interpret the deviation.

The continuous process of measuring products, services, and practices against major competitors or industry leaders is called ____________________.

In a traditional ____________________ approach, budgeted amounts for the coming year are imposed on middle- and lower-level managers.

The fourth step in the control process is comparing actual activities to performance standards.

Managers focus on the various elements of the scorecard to set targets, evaluate performance, and guide discussion about what further actions need to be taken.

The ____________________ provides three types of information: assets, liabilities, and owners' equity.

The ____________________ lists planned investments in major assets such as buildings, trucks, and heavy machinery, often involving expenditures over more than a year.

The use of cultural values, traditions, shared beliefs and trust to increase compliance with goals refers to decentralized control.

____________________ refers to the system of governing an organization so that the interests of corporate owners are protected.

According to the control model, after establishing standards of performance the manager should

The ____ offers some indication of the degree to which various countries are open regarding economic matters.

All well-designed control systems involve the use of ____ to determine whether performance meets established standards.

The return on total assets (ROA) is an activity ratio that is the percentage returned to investors on total assets.

Kyle's work group consistently exceeds the goals the members set for themselves some months ago. In an attempt to better motivate the group, Kyle thought it would be a good idea to set new goals. This is an example of Kyle exercising control by

Decentralized control is usually implemented in all of the following areas EXCEPT:

Innovative Management for Turbulent Times

The Evolution of Management Thinking

The Environment and Corporate Culture

Managing in a Global Environment

Managing Ethics and Social Responsibility

Managerial Planning and Goal Setting

Strategy Formulation and Implementation

Managerial Decision Making

Designing Adaptive Organizations

Managing Change and Innovation

Managing Human Resources

Managing Diversity

Dynamics of Behavior in Organizations

Leadership

Motivating Employees

Managing Communication

Leading Teams

Managing the Value Chain, Information Technology, and E-Business

Managing Small Business Start-Ups

Filters

Exam 18: Managing Quality and Performance

The firm's financial position with respect to assets and liabilities at a specific point in time is shown by its

A(n) ____________________ lists forecasted and actual revenues of the organization.

Total quality management

Effectively controlling an organization requires information about product standards and actual products, as well as actions to correct any deviations from the standards.

When ____________________ deviates from a(n) ____________________, managers must interpret the deviation.

The continuous process of measuring products, services, and practices against major competitors or industry leaders is called ____________________.

In a traditional ____________________ approach, budgeted amounts for the coming year are imposed on middle- and lower-level managers.

The fourth step in the control process is comparing actual activities to performance standards.

Managers focus on the various elements of the scorecard to set targets, evaluate performance, and guide discussion about what further actions need to be taken.

The ____________________ provides three types of information: assets, liabilities, and owners' equity.

The ____________________ lists planned investments in major assets such as buildings, trucks, and heavy machinery, often involving expenditures over more than a year.

The use of cultural values, traditions, shared beliefs and trust to increase compliance with goals refers to decentralized control.

____________________ refers to the system of governing an organization so that the interests of corporate owners are protected.

According to the control model, after establishing standards of performance the manager should

The ____ offers some indication of the degree to which various countries are open regarding economic matters.

All well-designed control systems involve the use of ____ to determine whether performance meets established standards.

The return on total assets (ROA) is an activity ratio that is the percentage returned to investors on total assets.

Kyle's work group consistently exceeds the goals the members set for themselves some months ago. In an attempt to better motivate the group, Kyle thought it would be a good idea to set new goals. This is an example of Kyle exercising control by

Decentralized control is usually implemented in all of the following areas EXCEPT:

Innovative Management for Turbulent Times

The Evolution of Management Thinking

The Environment and Corporate Culture

Managing in a Global Environment

Managing Ethics and Social Responsibility

Managerial Planning and Goal Setting

Strategy Formulation and Implementation

Managerial Decision Making

Designing Adaptive Organizations

Managing Change and Innovation

Managing Human Resources

Managing Diversity

Dynamics of Behavior in Organizations

Leadership

Motivating Employees

Managing Communication

Leading Teams

Managing the Value Chain, Information Technology, and E-Business

Managing Small Business Start-Ups

Filters

When deviates from a(n) , managers must interpret the deviation.