Question 1

What is business strategy translation concerned with?

Accepted Answer

A) choosing market and customer segments 
B) identifying critical internal and business processes 
C) selecting individual and organizational properties required 
D) specifying objectives,measures,targets,and initiatives for each perspective 
A) choosing market and customer segments 
B) identifying critical internal and business processes 
C) selecting individual and organizational properties required 
D) specifying objectives,measures,targets,and initiatives for each perspective D

Question 2

Which of the following is limitation of activity-based responsibility accounting?

Accepted Answer

A) The continuous improvement were fragmented. 
B) The emphasis includes financial results as well as how things are done. 
C) Responsibility moves from one dimension to two dimensions. 
D) It moves from a control system to a performance management system. 
A) The continuous improvement were fragmented. 
B) The emphasis includes financial results as well as how things are done. 
C) Responsibility moves from one dimension to two dimensions. 
D) It moves from a control system to a performance management system. A

Question 3

What is the term for the number of units that can be produced in a given period of time?

Accepted Answer

A) velocity 
B) cycle time 
C) turnover 
D) efficiency 
A) velocity 
B) cycle time 
C) turnover 
D) efficiency A

Question 4

How is on-time delivery performance calculated?

Accepted Answer

A) orders delivered on time/total number of orders delivered 
B) orders delivered on time/total sales dollars 
C) orders delivered on time/total production 
D) orders delivered/orders delivered on time 
A) orders delivered on time/total number of orders delivered 
B) orders delivered on time/total sales dollars 
C) orders delivered on time/total production 
D) orders delivered/orders delivered on time

Question 5

Which of the following would be a lag measure?

Accepted Answer

A) budget forecasts 
B) sales per employee 
C) plant investment 
D) employee training hours 
A) budget forecasts 
B) sales per employee 
C) plant investment 
D) employee training hours

Question 6

At the beginning of the current year,Smith Company installed a JIT purchasing and manufacturing system.The following information has been gathered about one of the company's products. $\begin{array}{lr}
\text { Theoretical annual capacity } & 4,000 \
\text { Actual production } & 3,600 \
\text { Production hours available } & 2,000 \
\text { Actual cost per unit } & \$ 28
\end{array}$
 
-What is the theoretical velocity per hour?

Accepted Answer

A) 0.5 units 
B) 0.55 units 
C) 1.8 units 
D) 2.0 units 
A) 0.5 units 
B) 0.55 units 
C) 1.8 units 
D) 2.0 units

Question 7

What does a strategic-based responsibility accounting system do?

Accepted Answer

A) Allows the strategy to be highly centralized 
B) Focuses the strategy on performance measures of top management 
C) Translates the strategy into operational objectives and measures 
D) Adds a process perspective to the traditional functional based system 
A) Allows the strategy to be highly centralized 
B) Focuses the strategy on performance measures of top management 
C) Translates the strategy into operational objectives and measures 
D) Adds a process perspective to the traditional functional based system

Question 8

In the Balanced Scorecard system,what are core objectives and measures?

Accepted Answer

A) common across all organizations. 
B) common across all scorecard perspectives. 
C) common across departments. 
D) common across all products 
A) common across all organizations. 
B) common across all scorecard perspectives. 
C) common across departments. 
D) common across all products

Question 9

What is the term for the time it takes to produce one unit of product?

Accepted Answer

A) velocity 
B) delivery time 
C) cycle time 
D) turnover 
A) velocity 
B) delivery time 
C) cycle time 
D) turnover

Question 10

How is directed continuous improvement accomplished?

Accepted Answer

A) by linking initiatives to processes 
B) by linking initiatives to strategy and mission 
C) by linking initiatives to financial outcomes 
D) by linking initiatives to measures 
A) by linking initiatives to processes 
B) by linking initiatives to strategy and mission 
C) by linking initiatives to financial outcomes 
D) by linking initiatives to measures

Question 11

At the beginning of the current year,Peters Company installed a JIT purchasing and manufacturing system.The following information has been gathered about one of the company's products: $$\begin{array} { l r } 
\text { Theoretical annal capacity } & 2,000 \
\text { Actual production } & 1,800 \
\text { Production hours available } & 500 \
\text { Actual conversion cost per hour } & \$ 7
\end{array}$$
- What is the ideal conversion cost per unit?

Accepted Answer

A) $0.9 per unit. 
B) $1.75 per unit. 
C) $25.50 per unit. 
D) $28 per unit. 
A) $0.9 per unit. 
B) $1.75 per unit. 
C) $25.50 per unit. 
D) $28 per unit.

Question 12

Double-loop feedback occurs under what conditions?

Accepted Answer

A) When managers receive information about both the effectiveness of strategy implementation as well as the validity of assumptions. 
B) When managers receive feedback information from two information sources. 
C) When managers validate the feedback information by double checking it. 
D) When managers receive information about the effectiveness of the controls and the effectiveness of the implementation. 
A) When managers receive information about both the effectiveness of strategy implementation as well as the validity of assumptions. 
B) When managers receive feedback information from two information sources. 
C) When managers validate the feedback information by double checking it. 
D) When managers receive information about the effectiveness of the controls and the effectiveness of the implementation.

Question 13

Activity-based responsibility accounting adds which of the following to the financial-based responsibility accounting perspective?

Accepted Answer

A) process perspective 
B) functional perspective 
C) consumer perspective 
D) learning perspective 
A) process perspective 
B) functional perspective 
C) consumer perspective 
D) learning perspective

Question 14

What is a nonfinancial measure that can be used to determine customer loyalty?

Accepted Answer

A) number of repeat customers 
B) dollars in repeat customer orders 
C) total orders in dollars 
D) sales dollars per customer contact 
A) number of repeat customers 
B) dollars in repeat customer orders 
C) total orders in dollars 
D) sales dollars per customer contact

Question 15

At the beginning of the current year,Smith Company installed a JIT purchasing and manufacturing system.The following information has been gathered about one of the company's products. $\begin{array}{lr}
\text { Theoretical annual capacity } & 4,000 \
\text { Actual production } & 3,600 \
\text { Production hours available } & 2,000 \
\text { Actual cost per unit } & \$ 28
\end{array}$
 
-What is the ideal conversion cost per unit?

Accepted Answer

A) $14 per unit 
B) $15.55 per unit 
C) $50.90 per unit 
D) $56 per unit 
A) $14 per unit 
B) $15.55 per unit 
C) $50.90 per unit 
D) $56 per unit

Question 16

Which of the following would be a lead measure?

Accepted Answer

A) customer profitability 
B) cost per employee 
C) return on investment 
D) employee training hours 
A) customer profitability 
B) cost per employee 
C) return on investment 
D) employee training hours

Question 17

What is the most common strategic-based performance management system?

Accepted Answer

A) variance analysis with standard costs as benchmarks 
B) the balanced scorecard 
C) financial budgets 
D) strategic responsibility system 
A) variance analysis with standard costs as benchmarks 
B) the balanced scorecard 
C) financial budgets 
D) strategic responsibility system

Question 18

How are performance expectations communicated?

Accepted Answer

A) by setting new initiatives 
B) by setting targets 
C) by setting a strategic vision 
D) by setting activity measures 
A) by setting new initiatives 
B) by setting targets 
C) by setting a strategic vision 
D) by setting activity measures

Question 19

What is the definition of double-loop feedback?

Accepted Answer

A) feedback that deals with both the effectiveness of strategy implementation and the validity of the assumptions underlying the strategy 
B) feedback that emphasizes the effectiveness of strategy implementation and the costs of implementation 
C) feedback that emphasizes the validity and assumptions underlying the strategy and the costs of the strategy 
D) feedback on lead indicators and lag indicators 
A) feedback that deals with both the effectiveness of strategy implementation and the validity of the assumptions underlying the strategy 
B) feedback that emphasizes the effectiveness of strategy implementation and the costs of implementation 
C) feedback that emphasizes the validity and assumptions underlying the strategy and the costs of the strategy 
D) feedback on lead indicators and lag indicators

Question 20

What is the term for outcome measures that can be readily quantified and verified?

Accepted Answer

A) objective measures 
B) external measures 
C) financial measures 
D) lag measures 
A) objective measures 
B) external measures 
C) financial measures 
D) lag measures

What is business strategy translation concerned with?

Which of the following is limitation of activity-based responsibility accounting?

What is the term for the number of units that can be produced in a given period of time?

How is on-time delivery performance calculated?

Which of the following would be a lag measure?

What does a strategic-based responsibility accounting system do?

In the Balanced Scorecard system,what are core objectives and measures?

What is the term for the time it takes to produce one unit of product?

How is directed continuous improvement accomplished?

Double-loop feedback occurs under what conditions?

Activity-based responsibility accounting adds which of the following to the financial-based responsibility accounting perspective?

What is a nonfinancial measure that can be used to determine customer loyalty?

Which of the following would be a lead measure?

What is the most common strategic-based performance management system?

How are performance expectations communicated?

What is the definition of double-loop feedback?

What is the term for outcome measures that can be readily quantified and verified?

A: Basic Cost Management Concepts

B: Basic Cost Management Concepts

Cost Behaviour

Cost-Volume-Profit Analysis

Job-Order Costing Systems

Process Costing

Activity-Based Costing

Allocating Costs of Support Departments and Joint Products

Budgeting for Planning and Control

Standard Costing: a Functional-Based Control Approach

Responsibility Accounting,performance Evaluation,and Transfer Pricing

Tactical Decision Making

Pricing and Profitability Analysis

Strategic Cost Management

Activity-Based Management

Quality and Environmental Cost Management

Lean Accounting and Productivity Measurement

Inventory Management: Economic Order Quantity,jit,and the Theory of Constraints

Filters

Exam 15: The Balanced Scorecard: Strategic-Based Control

What is business strategy translation concerned with?

Which of the following is limitation of activity-based responsibility accounting?

What is the term for the number of units that can be produced in a given period of time?

How is on-time delivery performance calculated?

Which of the following would be a lag measure?

What does a strategic-based responsibility accounting system do?

In the Balanced Scorecard system,what are core objectives and measures?

What is the term for the time it takes to produce one unit of product?

How is directed continuous improvement accomplished?

Double-loop feedback occurs under what conditions?

Activity-based responsibility accounting adds which of the following to the financial-based responsibility accounting perspective?

What is a nonfinancial measure that can be used to determine customer loyalty?

Which of the following would be a lead measure?

What is the most common strategic-based performance management system?

How are performance expectations communicated?

What is the definition of double-loop feedback?

What is the term for outcome measures that can be readily quantified and verified?

A: Basic Cost Management Concepts

B: Basic Cost Management Concepts

Cost Behaviour

Cost-Volume-Profit Analysis

Job-Order Costing Systems

Process Costing

Activity-Based Costing

Allocating Costs of Support Departments and Joint Products

Budgeting for Planning and Control

Standard Costing: a Functional-Based Control Approach

Responsibility Accounting,performance Evaluation,and Transfer Pricing

Tactical Decision Making

Pricing and Profitability Analysis

Strategic Cost Management

Activity-Based Management

Quality and Environmental Cost Management

Lean Accounting and Productivity Measurement

Inventory Management: Economic Order Quantity,jit,and the Theory of Constraints

Filters