Question 1

Which of the following is not one of the four balanced scorecard perspectives?

Accepted Answer

A) Learning and growth 
B) Production 
C) Customer 
D) Financial 
A) Learning and growth 
B) Production 
C) Customer 
D) Financial B

Question 2

Which of the following is not a reason companies use key performance indicators?

Accepted Answer

A) To align business activity with corporate strategy 
B) To improve company performance 
C) To improve timeliness of business decisions 
D) All of these answer choices are reasons companies use key performance indicators. 
A) To align business activity with corporate strategy 
B) To improve company performance 
C) To improve timeliness of business decisions 
D) All of these answer choices are reasons companies use key performance indicators. D

Question 3

Benchmarking is about trying to achieve another company's metrics.

Accepted Answer

A) True 
 B)False  False

Question 4

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 5

Qualitative indicators tend to be based on

Accepted Answer

A) feelings or accounting records. 
B) feelings or perceptions. 
C) accounting records or perceptions. 
D) None of these answer choices are correct. 
A) feelings or accounting records. 
B) feelings or perceptions. 
C) accounting records or perceptions. 
D) None of these answer choices are correct.

Question 6

Which of the following is an example of a fifth perspective that some organizations may want to add to their balanced scorecard?

Accepted Answer

A) Supplier relations 
B) Community involvement 
C) Environmental impact 
D) Any of these answer choices are correct 
A) Supplier relations 
B) Community involvement 
C) Environmental impact 
D) Any of these answer choices are correct

Question 7

The practice of using data from other organizations to identify the processes and practices associated with world-class performance is referred to as

Accepted Answer

A) Benchmarking. 
B) Dashboarding. 
C) Industry flowcharting. 
D) Scorecarding. 
A) Benchmarking. 
B) Dashboarding. 
C) Industry flowcharting. 
D) Scorecarding.

Question 8

Good Morning Day Care Center is a child care facility.Good Morning is considering benchmarking with Lights Out Motel,a small,successful motel located on the same block as Good Morning.
Required:
List five processes that Good Morning might have in common with those of a motel.

Accepted Answer

Answers will vary,some examples include:

Question 9

Which of the following is a fifth perspective that some organizations add to the balanced scorecard?

Accepted Answer

A) An additional area that the company expects to expand into at a later date. 
B) An additional area that highlights an areas of strategic importance. 
C) An additional area in which the company has found problems. 
D) None of these answer choices are correct,a fifth perspective should not be added. 
A) An additional area that the company expects to expand into at a later date. 
B) An additional area that highlights an areas of strategic importance. 
C) An additional area in which the company has found problems. 
D) None of these answer choices are correct,a fifth perspective should not be added.

Question 10

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

Accepted Answer

A) True 
 B)False

Question 11

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

Accepted Answer

A) True 
 B)False

Question 12

As a measure of a salesperson's performance,"corporate profit margin" is an example of an actionable measure.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following organizations would benefit from benchmarking?

Accepted Answer

A) Equipment manufacturer. 
B) Law firm. 
C) Community college. 
D) All of these answer choices are correct. 
A) Equipment manufacturer. 
B) Law firm. 
C) Community college. 
D) All of these answer choices are correct.

Question 14

Benchmarking is the practice of using data from other organizations to identify the processes and practices associated with world-class performance.

Accepted Answer

A) True 
 B)False

Question 15

When using the balanced scorecard to monitor performance,the financial 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) How do investors see us? 
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) How do investors see us? 
D) Are we growing in a manner to be competitive in the industry?

Question 16

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

Accepted Answer

A) True 
 B)False

Question 17

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 18

Margie's Flower Shop is interested in improving her performance in the financial area.This interest came about after Margie had her year-end financial statements prepared and,although she had net income,her cash flow was inadequate.Margie has discussed her problems with her neighboring store,an auto supply retail store.
Required:
List five financial processes that Margie and the auto supply business have in common.

Accepted Answer

Answer will vary.Several processes are:

Question 19

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 20

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

Which of the following is not one of the four balanced scorecard perspectives?

Which of the following is not a reason companies use key performance indicators?

Benchmarking is about trying to achieve another company's metrics.

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

Qualitative indicators tend to be based on

Which of the following is an example of a fifth perspective that some organizations may want to add to their balanced scorecard?

The practice of using data from other organizations to identify the processes and practices associated with world-class performance is referred to as

Good Morning Day Care Center is a child care facility.Good Morning is considering benchmarking with Lights Out Motel,a small,successful motel located on the same block as Good Morning. Required: List five processes that Good Morning might have in common with those of a motel.

Which of the following is a fifth perspective that some organizations add to the balanced scorecard?

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

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

As a measure of a salesperson's performance,"corporate profit margin" is an example of an actionable measure.

Which of the following organizations would benefit from benchmarking?

Benchmarking is the practice of using data from other organizations to identify the processes and practices associated with world-class performance.

When using the balanced scorecard to monitor performance,the financial perspective answers which of the following questions?

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

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

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

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

Accounting As a Tool for Management

Cost Behavior and Cost Estimation

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 not one of the four balanced scorecard perspectives?

Which of the following is not a reason companies use key performance indicators?

Benchmarking is about trying to achieve another company's metrics.

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

Qualitative indicators tend to be based on

Which of the following is an example of a fifth perspective that some organizations may want to add to their balanced scorecard?

The practice of using data from other organizations to identify the processes and practices associated with world-class performance is referred to as

Good Morning Day Care Center is a child care facility.Good Morning is considering benchmarking with Lights Out Motel,a small,successful motel located on the same block as Good Morning. Required: List five processes that Good Morning might have in common with those of a motel.

Which of the following is a fifth perspective that some organizations add to the balanced scorecard?

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

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

As a measure of a salesperson's performance,"corporate profit margin" is an example of an actionable measure.

Which of the following organizations would benefit from benchmarking?

Benchmarking is the practice of using data from other organizations to identify the processes and practices associated with world-class performance.

When using the balanced scorecard to monitor performance,the financial perspective answers which of the following questions?

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

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

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

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

Accounting As a Tool for Management

Cost Behavior and Cost Estimation

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