Question 1

Benchmarking is appropriate only within a company's industry.

Accepted Answer

A) True 
 B)False

Question 2

Countless measures could be captured and reported to managers.The best measures are SMART: specific,measurable,actionable,relevant,and timely.Listed below are examples of poorly constructed performance measures.For each component of SMART,provide two better measures for the following poorly constructed performance measures.

Accepted Answer

The answer of Countless measures could be captured and reported...

Question 3

To balance the scorecard,organizations should also select

Accepted Answer

A) Leading measures. 
B) Qualitative measures. 
C) Quantitative measures. 
D) All of these answer choices are correct. 
A) Leading measures. 
B) Qualitative measures. 
C) Quantitative measures. 
D) All of these answer choices are correct.

Question 4

Financial measures alone do not capture all aspects of an organization's performance.Nonfinancial measures can be either qualitative or quantitative.Indicate by placing an "X" in the appropriate column whether the following nonfinancial measures are internal operating measures,customer-oriented measures,or employee-oriented measures.

Accepted Answer

The answer of Financial measures alone do not capture all...

Question 5

Which of the following is not a measure that relates to the financial perspective?

Accepted Answer

A) EVA 
B) Return on investment 
C) Cost per unit 
D) Profit margin 
A) EVA 
B) Return on investment 
C) Cost per unit 
D) Profit margin

Question 6

Which of the following does benchmarking focus on?

Accepted Answer

A) Identifying best metrics. 
B) Analyzing best metrics. 
C) Studying best processes. 
D) Exceeding best processes. 
A) Identifying best metrics. 
B) Analyzing best metrics. 
C) Studying best processes. 
D) Exceeding best processes.

Question 7

When using the balanced scorecard to monitor performance,which of the following perspectives is the foundation for improvement in all other areas?

Accepted Answer

A) Internal business processes 
B) Financial 
C) Learning and growth 
D) Customer 
A) Internal business processes 
B) Financial 
C) Learning and growth 
D) Customer

Question 8

Which of the following kinds of companies would a bass boat manufacturing company not want to benchmark?

Accepted Answer

A) Another bass boat manufacturer with a best practice in quality control 
B) A manufacturer of ladies dresses with a best practice in inventory management 
C) A retail store that has a best practice in employee safety 
D) A bass boat manufacturer might want to benchmark with all the above companies. 
A) Another bass boat manufacturer with a best practice in quality control 
B) A manufacturer of ladies dresses with a best practice in inventory management 
C) A retail store that has a best practice in employee safety 
D) A bass boat manufacturer might want to benchmark with all the above companies.

Question 9

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

Accepted Answer

A) To mandate to report company performance to stakeholders 
B) To mncrease accuracy of business decisions 
C) To improve company performance 
D) All of these answer choices are reasons companies use key performance indicators. 
A) To mandate to report company performance to stakeholders 
B) To mncrease accuracy of business decisions 
C) To improve company performance 
D) All of these answer choices are reasons companies use key performance indicators.

Question 10

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

Accepted Answer

A) How do investors see us? 
B) Are we reaching our financial goals? 
C) Both how do investors see us and are we reaching our financial goals? 
D) Neither how do investors see us nor are we reaching our financial goals? 
A) How do investors see us? 
B) Are we reaching our financial goals? 
C) Both how do investors see us and are we reaching our financial goals? 
D) Neither how do investors see us nor are we reaching our financial goals?

Question 11

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 12

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 13

Return on investment is a financial measure that is

Accepted Answer

The answer of Return on investment is a financial measure...

Question 14

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

Accepted Answer

A) Product flexibility 
B) Product defects 
C) Production volume 
D) New product introductions 
A) Product flexibility 
B) Product defects 
C) Production volume 
D) New product introductions

Question 15

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 16

Morgan Company has provided you with the following information on an order it received for fifty widgets.Listed below is the timeline for processing the order.
   Required: 
a.Calculate the delivery cycle time.
b.Calculate the manufacturing cycle time.
c.Calculate the manufacturing cycle efficiency.
Appendix,

Accepted Answer

a..25 + 1.00 + .25 + 12.00 + .

Question 17

A visual display of the key measures related to an organization's operational goals and strategies is referred to as a

Accepted Answer

A) balanced scorecard. 
B) performance dashboard. 
C) strategy map. 
D) benchmark report. 
A) balanced scorecard. 
B) performance dashboard. 
C) strategy map. 
D) benchmark report.

Question 18

When customers consider making purchases,which of the following is not an expectation they have?

Accepted Answer

A) Price 
B) Delivery speed 
C) High profit margin for supplier 
D) Quality 
A) Price 
B) Delivery speed 
C) High profit margin for supplier 
D) Quality

Question 19

Because the organization's vision and strategy lie at the heart of the balanced scorecard,the first step in developing the scorecard is to clarify the strategic focus.As part of this process,organizations may develop a strategy map.
Required:
a.What is a strategy map?
b.Discuss the process of building a balance scorecard.
Unit 11-2,

Accepted Answer

a.A strategy map is a pictorial represen

Question 20

Lights Out Motel is owned and operated by your mother's neighbor.The motel manager knows you are taking an accounting class and has asked you to help develop a balanced scorecard for her.To stay competitive with larger chain motels,Lights Out needs to find a way to advertise the amenities offered that larger chains may not have like garden views from every window,fresh flowers in every room,and home cooked meals.
Required:
Identify two measures for each of the four balanced scorecard perspectives that will help Lights Out achieve its strategy.
Learning and Growth perspective:
1.
2.
Internal Business Processes perspective:
1.
2.
Customer perspective:
1.
2.
Financial perspective
1.
2.

Accepted Answer

Answers will vary,ex

Benchmarking is appropriate only within a company's industry.

To balance the scorecard,organizations should also select

Which of the following is not a measure that relates to the financial perspective?

Which of the following does benchmarking focus on?

When using the balanced scorecard to monitor performance,which of the following perspectives is the foundation for improvement in all other areas?

Which of the following kinds of companies would a bass boat manufacturing company not want to benchmark?

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

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

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

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

Return on investment is a financial measure that is

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

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

A visual display of the key measures related to an organization's operational goals and strategies is referred to as a

When customers consider making purchases,which of the following is not an expectation they have?

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

Benchmarking is appropriate only within a company's industry.

To balance the scorecard,organizations should also select

Which of the following is not a measure that relates to the financial perspective?

Which of the following does benchmarking focus on?

When using the balanced scorecard to monitor performance,which of the following perspectives is the foundation for improvement in all other areas?

Which of the following kinds of companies would a bass boat manufacturing company not want to benchmark?

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

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

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

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

Return on investment is a financial measure that is

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

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

A visual display of the key measures related to an organization's operational goals and strategies is referred to as a

When customers consider making purchases,which of the following is not an expectation they have?

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