Question 1

Which of the following is a measure that relates to the financial perspective?

Accepted Answer

A) Revenue growth 
B) Market share 
C) Customer profitability 
D) Defect rate 
A) Revenue growth 
B) Market share 
C) Customer profitability 
D) Defect rate

Question 2

Direct materials variances,direct labor variances,return on investment,residual income and EVA are performance measures that are

Accepted Answer

The answer of Direct materials variances,direct labor variances,return on investment,residual...

Question 3

Explain the difference between a leading indicator and a lagging indicator and give one example of each relating to your performance in this class.

Accepted Answer

A lagging indicator is a measure that ca

Question 4

A performance measure is measurable if it

Accepted Answer

A) Measures only one activity. 
B) Relates clearly and directly to the process it measures. 
C) Relates to a corporate strategic objective. 
D) Is complete and accurate. 
A) Measures only one activity. 
B) Relates clearly and directly to the process it measures. 
C) Relates to a corporate strategic objective. 
D) Is complete and accurate.

Question 5

The time between an order's placement and its shipment is referred to as the delivery cycle time.

Accepted Answer

A) True 
 B)False

Question 6

The time from the start of a production to the shipment of the product to the customer is referred to as

Accepted Answer

A) Manufacturing cycle time. 
B) Throughput time. 
C) Delivery cycle time. 
D) Either Manufacturing cycle time or Throughput time,but not delivery cycle time. 
A) Manufacturing cycle time. 
B) Throughput time. 
C) Delivery cycle time. 
D) Either Manufacturing cycle time or Throughput time,but not delivery cycle time.

Question 7

When using the balanced scorecard to monitor performance,the customer perspective Answers which of the following questions?

Accepted Answer

A) Are we developing employees and providing technologies that facilitate change and improvement? 
B) Are we creating products and hiring employees with skills to create product and deliver them in a timely manner? 
C) Are we meeting our customers' expectations? 
D) Are we growing in a manner to be competitive in the industry? 
A) Are we developing employees and providing technologies that facilitate change and improvement? 
B) Are we creating products and hiring employees with skills to create product and deliver them in a timely manner? 
C) Are we meeting our customers' expectations? 
D) Are we growing in a manner to be competitive in the industry?

Question 8

The balanced scorecard includes one or two measures in each of six perspectives.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following strategies relate to the internal business processes

Accepted Answer

A) Infuse corporate culture of quality throughout workforce and develop reputation for quick turnaround 
B) Achieve operational excellence and infuse corporate culture of quality throughout workforce 
C) Manage customer relationships and achieve operational excellence 
D) Develop reputation for quick turnaround and manage customer relationships 
A) Infuse corporate culture of quality throughout workforce and develop reputation for quick turnaround 
B) Achieve operational excellence and infuse corporate culture of quality throughout workforce 
C) Manage customer relationships and achieve operational excellence 
D) Develop reputation for quick turnaround and manage customer relationships

Question 10

Which of the following statements is correct regarding benchmarking?

Accepted Answer

A) Benchmarking is the practice of using a company's own data to identify the processes and practices in which it outperforms its competitors. 
B) Benchmarking involves selecting measures,setting targets for measures and adjusting the benchmark as strategies change. 
C) Benchmarking participants should adhere to the Benchmarking Code of Conduct which provides general principles to follow during the benchmarking process. 
D) All of these ans choices are correct regarding benchmarking. 
A) Benchmarking is the practice of using a company's own data to identify the processes and practices in which it outperforms its competitors. 
B) Benchmarking involves selecting measures,setting targets for measures and adjusting the benchmark as strategies change. 
C) Benchmarking participants should adhere to the Benchmarking Code of Conduct which provides general principles to follow during the benchmarking process. 
D) All of these ans choices are correct regarding benchmarking.

Question 11

Which of the following is $\textbf{       not   }$ a measure that relates to the learning and growth perspective?

Accepted Answer

A) Net income per employee 
B) Revenue per employee 
C) Training dollars spent per employee 
D) Suggestions generated by employees 
A) Net income per employee 
B) Revenue per employee 
C) Training dollars spent per employee 
D) Suggestions generated by employees

Question 12

The balanced scorecard is a system that forces managers to consider how different parts of their company affect one another.

Accepted Answer

A) True 
 B)False

Question 13

Approximately what percentage of global business executives use a balanced scorecard to monitor performance?

Accepted Answer

A) 16% 
B) 41% 
C) 66% 
D) 91% 
A) 16% 
B) 41% 
C) 66% 
D) 91%

Question 14

Which of the following is an example of an internal operating nonfinancial measure?

Accepted Answer

A) Accidents per month 
B) Labor productivity 
C) Market share 
D) Product flexibility 
A) Accidents per month 
B) Labor productivity 
C) Market share 
D) Product flexibility

Question 15

Return on investment,residual income,and EVA all have qualitative components.

Accepted Answer

A) True 
 B)False

Question 16

A balanced scorecard should include five to seven measures in each of four perspectives: Learning and growth,internal business processes,customer,and financial.
Required:

List six measures that relate to the learning and growth perspective.

Accepted Answer

Answers will vary,several measures are:

Question 17

Earnings per share is a financial measure that is

Accepted Answer

The answer of Earnings per share is a financial measure...

Question 18

To be of any value,a measure of performance must be measurable,meaning that it is complete and accurate,and is based on actual results rather than on estimates.

Accepted Answer

A) True 
 B)False

Question 19

The first step in developing a balanced scorecard is to clarify the strategic focus.As part of the process,many organizations develop a strategy map.You have been assigned to a team that has the responsibility to develop a strategy for your organization.Your team members have determined that the company has established several strategic focuses.One team member has started a strategy map,but has not filled in the strategies.
$\bullet$Achieve operational excellence
$\bullet$Develop trained workforce
$\bullet$Infuse corporate culture of quality throughout workforce
$\bullet$Develop reputation for quick turnaround
$\bullet$Retain and grow customer base
$\bullet$Manage customer relationships
$\bullet$Increase profit

Required:

Complete the strategy map using the four balanced scorecard perspectives.

Accepted Answer

The answer of The first step in developing a balanced...

Question 20

Qualitative indicators

Accepted Answer

A) Tend to be based on feelings. 
B) Tend to be based on perceptions. 
C) Do not rely on accounting records. 
D) All of these ans choices are correct. 
A) Tend to be based on feelings. 
B) Tend to be based on perceptions. 
C) Do not rely on accounting records. 
D) All of these ans choices are correct.

Which of the following is a measure that relates to the financial perspective?

Direct materials variances,direct labor variances,return on investment,residual income and EVA are performance measures that are

Explain the difference between a leading indicator and a lagging indicator and give one example of each relating to your performance in this class.

A performance measure is measurable if it

The time between an order's placement and its shipment is referred to as the delivery cycle time.

The time from the start of a production to the shipment of the product to the customer is referred to as

When using the balanced scorecard to monitor performance,the customer perspective Answers which of the following questions?

The balanced scorecard includes one or two measures in each of six perspectives.

Which of the following strategies relate to the internal business processes

Which of the following statements is correct regarding benchmarking?

Which of the following is $\textbf{ not }$ a measure that relates to the learning and growth perspective?

The balanced scorecard is a system that forces managers to consider how different parts of their company affect one another.

Approximately what percentage of global business executives use a balanced scorecard to monitor performance?

Which of the following is an example of an internal operating nonfinancial measure?

Return on investment,residual income,and EVA all have qualitative components.

A balanced scorecard should include five to seven measures in each of four perspectives: Learning and growth,internal business processes,customer,and financial. Required: List six measures that relate to the learning and growth perspective.

Earnings per share is a financial measure that is

To be of any value,a measure of performance must be measurable,meaning that it is complete and accurate,and is based on actual results rather than on estimates.

Qualitative indicators

Accounting As a Tool for Management

Cost Behavior and Cost Estimation Summary of Questions by Objectives and Blooms Taxonomy

Cost-Volume-Profit Analysis and Pricing Decisions

Product Costs and Job Order Costing

Planning and Forecasting

Performance Evaluation: Variance Analysis

Activity-Based Costing and Activity Based Management

Using Accounting Information to Make Managerial Decisions

Capital Budgeting

Decentralizing and Performance Evaluation

Financial Statement Analysis

Statement of Cash Flows

Topic Focus: Process Costing

Topic Focus Variable and Absorption Costing

Topic Focus Standard Costing Systems

Topic Focus Customer Profitability

Filters

Exam 11: Performance Evaluation Revisited: a Balanced Approach

Which of the following is a measure that relates to the financial perspective?

Direct materials variances,direct labor variances,return on investment,residual income and EVA are performance measures that are

Explain the difference between a leading indicator and a lagging indicator and give one example of each relating to your performance in this class.

A performance measure is measurable if it

The time between an order's placement and its shipment is referred to as the delivery cycle time.

The time from the start of a production to the shipment of the product to the customer is referred to as

When using the balanced scorecard to monitor performance,the customer perspective Answers which of the following questions?

The balanced scorecard includes one or two measures in each of six perspectives.

Which of the following strategies relate to the internal business processes

Which of the following statements is correct regarding benchmarking?

Which of the following is not \textbf{ not } not a measure that relates to the learning and growth perspective?

The balanced scorecard is a system that forces managers to consider how different parts of their company affect one another.

Approximately what percentage of global business executives use a balanced scorecard to monitor performance?

Which of the following is an example of an internal operating nonfinancial measure?

Return on investment,residual income,and EVA all have qualitative components.

A balanced scorecard should include five to seven measures in each of four perspectives: Learning and growth,internal business processes,customer,and financial. Required: List six measures that relate to the learning and growth perspective.

Earnings per share is a financial measure that is

To be of any value,a measure of performance must be measurable,meaning that it is complete and accurate,and is based on actual results rather than on estimates.

Qualitative indicators

Accounting As a Tool for Management

Cost Behavior and Cost Estimation Summary of Questions by Objectives and Blooms Taxonomy

Cost-Volume-Profit Analysis and Pricing Decisions

Product Costs and Job Order Costing

Planning and Forecasting

Performance Evaluation: Variance Analysis

Activity-Based Costing and Activity Based Management

Using Accounting Information to Make Managerial Decisions

Capital Budgeting

Decentralizing and Performance Evaluation

Financial Statement Analysis

Statement of Cash Flows

Topic Focus: Process Costing

Topic Focus Variable and Absorption Costing

Topic Focus Standard Costing Systems

Topic Focus Customer Profitability

Filters

Which of the following is $\textbf{ not }$ a measure that relates to the learning and growth perspective?