Exam 5: Management Concepts

In a conversation about risk management, Miguel and Rafaela produced a ranked list of their company's risk exposures.The ranked list is most closely related to which element of the COSO framework?

Brett and Erin are accountants working for XMP Corporation; Brett is very interested in working his way up to being XMP's chief financial officer.He is confident that he can complete all his assigned tasks well before their established deadlines and control costs in his area.Which elements of expectancy theory are illustrated in that example?

Erin has maintained a very high GPA throughout her accounting education, but wonders if that GPA will ensure that she gets a good job.In terms of expectancy theory, Erin is most concerned about:

Consider the following statements as you respond to the question: i.Ask managers to think of one hundred uses for a brick, other than for building things.ii.Assess the educational background and organizational experience of employees.iii.Conduct a one-day seminar on how business processes can create value in the marketplace.iv.Encourage managers to suggest ideas, even if they are impractical.v.Hold weekly meetings to update interested parties on the BPM project; ensure at least one member of top management attends each meeting.vi.Ignore opinions and insights from people not directly involved with a business process.The text discussed seven basic principles of business process management.Which statement both illustrates one of the principles and relates to the internal environment component of the COSO enterprise risk management framework?

___ comprises seven interrelated elements.

Brett and Erin are accountants working for XMP Corporation; Brett is very interested in working his way up to being XMP's chief financial officer.He believes if he completes all his assigned tasks well before their established deadlines and controls costs in his area, he will be promoted.He is confident he can achieve those two goals.Which of the following best pairs an element of expectancy theory with a phrase that illustrates it?

Consider the following statements as you respond to the question: i.Based on my research and reading, I'm sure I want to pursue a career in fraud examination.ii.Good grades and leadership skills generally lead to a good job.iii.I am sure I'll pass the CPA exam on my first attempt.iv.I can definitely complete my accounting degree within four years.v.I've spoken to several friends and family members who work for large corporations.Which group of statements combines all three variables in expectancy theory?

Which of the following best pairs an element of the COSO enterprise risk management framework with an example of that element?

Which of the following best paraphrases one of the basic principles of business process management discussed in the text?

One of the steps in the generalized model of business process management discussed in the text focuses on collecting process-related data.If Laurie and Milton are concerned about the risks created by inefficiency in the company's current fixed asset purchasing process, they could collect data related to: (i) the average length of time between an order for a fixed asset and its delivery, (ii) the costs incurred in the fixed asset purchasing process.

Gelton was leading a team of three co-workers focused on improving their company's process for hiring new employees.They had read the company procedures manual describing the current process, then interviewed newly-hired workers about their experiences.They used the principles of activity-based costing to determine the average cost of hiring a new employee, then created a line graph tracing the average cost over the last twelve months."Reading the company procedures manual" and "interviewing newly-hired workers" are examples of:

Consider the following table as you respond to the questions: Which of the following is the best choice for Item D in the table?

Leigh is a corporate accounting manager with six employees reporting to her.Most of the employees do good work, but one of them consistently lacks motivation.Which of the following tools should Leigh use to address the problem?

Gelton was leading a team of three co-workers focused on improving their company's process for hiring new employees.They had read the company procedures manual describing the current process, then interviewed newly-hired workers about their experiences.They used the principles of activity-based costing to determine the average cost of hiring a new employee, then created a line graph tracing the average cost over the last twelve months.Using the generalized model of BPM discussed in the text, Gelton and his team still need to complete steps:

Consider the following table as you respond to the questions: Which of the following is the best choice for Item C in the table?

The COSO enterprise risk management framework comprises eight sections, one of which is objective setting.COSO identified five types of objectives most organizations should consider in developing an ERM plan."Ensuring that the corporation fulfills the requirements of the Sarbanes-Oxley Act" is an example of a ___ objective.

The basic principles of business process management discussed in the text include all of the following except:

Consider the following table as you respond to the questions: Which of the following is the best choice for Item E in the table?

Consider the following table as you respond to the questions: Which of the following is the best choice for Item F in the table?

Consider the following statements as you respond to the question: i.Based on my research and reading, I'm sure I want to pursue a career in fraud examination.ii.Good grades and leadership skills generally lead to a good job.iii.I am sure I'll pass the CPA exam on my first attempt.iv.I can definitely complete my accounting degree within four years.v.I've spoken to several friends and family members who work for large corporations.Which pair of statements relates to the same variable in expectancy theory?