Question 1

What length of time does the Balanced Scorecard Institute estimate it takes to create a corporate-level scorecard?

Accepted Answer

A) Two to three weeks 
B) Two to three months 
C) Two to three years 
D) More than five years 
A) Two to three weeks 
B) Two to three months 
C) Two to three years 
D) More than five years

Question 2

Measures that help predict a future result are referred to as

Accepted Answer

A) Lagging indicators 
B) Earnings per share 
C) Leading indicators 
D) EVA 
A) Lagging indicators 
B) Earnings per share 
C) Leading indicators 
D) EVA

Question 3

The best measures that should be captured and reported to managers relate to corporate strategy and are SMART: specific,measurable,actionable,relevant,and timely.Below are examples of poorly constructed performance measures for each of these.For each component of SMART,provide two better measures than the poorly constructed measures provided.

Accepted Answer

The answer of The best measures that should be captured...

Question 4

On January 4th,Stevens Manufacturing received an order for 30 uniforms.The following information pertained to that order.
   
Calculate the manufacturing cycle efficiency.

Accepted Answer

A)  70% 
B)  60% 
C)  69% 
D)  10% 
A)  70% 
B)  60% 
C)  69% 
D)  10%

Question 5

Benchmarking means trying to match another company's

Accepted Answer

A) Matrics. 
B) Performance. 
C) Profits. 
D) Processes 
A) Matrics. 
B) Performance. 
C) Profits. 
D) Processes

Question 6

Which of the following geographical regions report the highest usage of a balanced scorecard to monitor performance?

Accepted Answer

A) Asia 
B) Canada 
C) South America 
D) United States 
A) Asia 
B) Canada 
C) South America 
D) United States

Question 7

Which of the following is $\textbf{       not  }$  one of the four balanced scorecard perspectives?

Accepted Answer

A) Internal business processes 
B) Customer 
C) Industry 
D) Financial 
A) Internal business processes 
B) Customer 
C) Industry 
D) Financial

Question 8

Mel Torme,sales manager for Hokque,Inc.has received numerous customer complaints about the length of time it takes to receive an order.He has gathered the following information from a recent order to help him understand the issue.

a.Calculate the delivery cycle time for the order.
b.Calculate the manufacturing time for the order.
c.Calculate the value-added time for the order.
d.Calculate the manufacturing cycle efficiency.

Accepted Answer

The answer of Mel Torme,sales manager for Hokque,Inc.has received numerous...

Question 9

The ratio of value-added processing time to total manufacturing cycle time is referred to as

Accepted Answer

A) Manufacturing cycle efficiency. 
B) Manufacturing cycle ratio. 
C) Throughput efficiency. 
D) Delivery cycle ratio. 
A) Manufacturing cycle efficiency. 
B) Manufacturing cycle ratio. 
C) Throughput efficiency. 
D) Delivery cycle ratio.

Question 10

Perfect manufacturing cycle efficiency would yield a ratio equal to

Accepted Answer

A) Zero. 
B) One. 
C) Less than one. 
D) More than one. 
A) Zero. 
B) One. 
C) Less than one. 
D) More than one.

Question 11

When using the balanced scorecard to monitor performance,the internal business processes 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 improving our business processes in order to deliver maximum value to our customers? 
C) Are we meeting our stakeholders' 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 improving our business processes in order to deliver maximum value to our customers? 
C) Are we meeting our stakeholders' expectations? 
D) Are we growing in a manner to be competitive in the industry?

Question 12

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 13

Which of the following strategies relate to the customer perspective?

Accepted Answer

A) Manage customer relationships and develop reputation for quick turnaround 
B) Retain and grow customer base and develop reputation for quick turnaround 
C) Manage customer relationships and retain and grow customer base 
D) Develop reputation for quick turnaround and manage customer relationships 
A) Manage customer relationships and develop reputation for quick turnaround 
B) Retain and grow customer base and develop reputation for quick turnaround 
C) Manage customer relationships and retain and grow customer base 
D) Develop reputation for quick turnaround and manage customer relationships

Question 14

Countless measures could be captured and reported to managers.The best measures relate to corporate strategy and are SMART.
Required:

Explain the five components of SMART and give an example of each component.

Accepted Answer

Specific – relates clearly and directly

Question 15

A performance measure is specific if it

Accepted Answer

A) Measures only one activity. 
B) Relates clearly and directly to the process it measures. 
C) Is either qualitative or nonfinancial,but not both. 
D) Is complete and accurate. 
A) Measures only one activity. 
B) Relates clearly and directly to the process it measures. 
C) Is either qualitative or nonfinancial,but not both. 
D) Is complete and accurate.

Question 16

When a company creates a balanced scorecard,managers are stating a hypothesis about the results that will occur if certain performance measures are stressed.

Accepted Answer

A) True 
 B)False

Question 17

Ledbetter Industries makes and sells outdoor canvas canopies.The selling price of each canopy is $499.Ledbetter has provided you with the following timeline information on an order it received for twelve canopies.
   
a.Calculate the delivery cycle time.
b.Calculate the manufacturing cycle time.
c.Calculate the manufacturing cycle efficiency.

Accepted Answer

a..50 + 12.00 + .25 + 6.00 + .

Question 18

From a customer's perspective,the time lapse between receipt of an order and the point when the product is pulled from inventory for a retailer is referred to as

Accepted Answer

A) Non-value added. 
B) Wasted time. 
C) Internal process time. 
D) None of these ans choices are correct. 
A) Non-value added. 
B) Wasted time. 
C) Internal process time. 
D) None of these ans choices are correct.

Question 19

Which of the following is a measure that relates to the learning and growth perspective?

Accepted Answer

A) Earnings per share 
B) Response time to customer request 
C) Revenue per employee 
D) Market share 
A) Earnings per share 
B) Response time to customer request 
C) Revenue per employee 
D) Market share

Question 20

Which of the following is an example of an employee-oriented nonfinancial measure?

Accepted Answer

A) Setup efficiency 
B) Labor productivity 
C) Accidents per month 
D) Time to respond to customer problems 
A) Setup efficiency 
B) Labor productivity 
C) Accidents per month 
D) Time to respond to customer problems

What length of time does the Balanced Scorecard Institute estimate it takes to create a corporate-level scorecard?

Measures that help predict a future result are referred to as

On January 4^th,Stevens Manufacturing received an order for 30 uniforms.The following information pertained to that order. Calculate the manufacturing cycle efficiency.

Benchmarking means trying to match another company's

Which of the following geographical regions report the highest usage of a balanced scorecard to monitor performance?

Which of the following is $\textbf{ not }$ one of the four balanced scorecard perspectives?

The ratio of value-added processing time to total manufacturing cycle time is referred to as

Perfect manufacturing cycle efficiency would yield a ratio equal to

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

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

Which of the following strategies relate to the customer perspective?

Countless measures could be captured and reported to managers.The best measures relate to corporate strategy and are SMART. Required: Explain the five components of SMART and give an example of each component.

A performance measure is specific if it

When a company creates a balanced scorecard,managers are stating a hypothesis about the results that will occur if certain performance measures are stressed.

From a customer's perspective,the time lapse between receipt of an order and the point when the product is pulled from inventory for a retailer is referred to as

Which of the following is a measure that relates to the learning and growth perspective?

Which of the following is an example of an employee-oriented nonfinancial measure?

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

What length of time does the Balanced Scorecard Institute estimate it takes to create a corporate-level scorecard?

Measures that help predict a future result are referred to as

On January 4th,Stevens Manufacturing received an order for 30 uniforms.The following information pertained to that order. Calculate the manufacturing cycle efficiency.

Benchmarking means trying to match another company's

Which of the following geographical regions report the highest usage of a balanced scorecard to monitor performance?

Which of the following is not \textbf{ not } not one of the four balanced scorecard perspectives?

The ratio of value-added processing time to total manufacturing cycle time is referred to as

Perfect manufacturing cycle efficiency would yield a ratio equal to

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

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

Which of the following strategies relate to the customer perspective?

Countless measures could be captured and reported to managers.The best measures relate to corporate strategy and are SMART. Required: Explain the five components of SMART and give an example of each component.

A performance measure is specific if it

When a company creates a balanced scorecard,managers are stating a hypothesis about the results that will occur if certain performance measures are stressed.

From a customer's perspective,the time lapse between receipt of an order and the point when the product is pulled from inventory for a retailer is referred to as

Which of the following is a measure that relates to the learning and growth perspective?

Which of the following is an example of an employee-oriented nonfinancial measure?

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

On January 4^th,Stevens Manufacturing received an order for 30 uniforms.The following information pertained to that order. Calculate the manufacturing cycle efficiency.

Which of the following is $\textbf{ not }$ one of the four balanced scorecard perspectives?