Question 1

After selecting the appropriate measures,managers should

Accepted Answer

A) Set a limit on the measure. 
B) Select a committee to enforce the use of the measures. 
C) Set a target for each measure. 
D) Select a manager to evaluate each measure. 
A) Set a limit on the measure. 
B) Select a committee to enforce the use of the measures. 
C) Set a target for each measure. 
D) Select a manager to evaluate each measure.

Question 2

Which of the following strategies relates to the financial perspective?

Accepted Answer

A) Increase profit 
B) Achieve operational excellence 
C) Infuse corporate culture of quality throughout workforce 
D) Retain and grow customer base 
A) Increase profit 
B) Achieve operational excellence 
C) Infuse corporate culture of quality throughout workforce 
D) Retain and grow customer base

Question 3

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.
   Required: 
a.Calculate the delivery cycle time.
b.Calculate the manufacturing cycle time.
c.Calculate the manufacturing cycle efficiency.
Appendix,

Accepted Answer

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

Question 4

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 5

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 6

Which of the following is 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 7

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 8

Measures that can be determined only after something is finished are called

Accepted Answer

A) post-operations indicators. 
B) lagging indicators. 
C) input indicators. 
D) objective indicator. 
A) post-operations indicators. 
B) lagging indicators. 
C) input indicators. 
D) objective indicator.

Question 9

Which of the following is not an example of an internal operating nonfinancial measure?

Accepted Answer

A) Labor productivity 
B) Product defects 
C) Product flexibility 
D) Setup efficiency 
A) Labor productivity 
B) Product defects 
C) Product flexibility 
D) Setup efficiency

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 answer 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 answer choices are correct regarding benchmarking.

Question 11

Customers typically have expectations for how quickly they should receive a product they have ordered.All other things held equal,they would prefer as short a wait as possible.However,different businesses perform different tasks between an order's placement and its shipment.
Required:
Discuss three measures that can help managers monitor their delivery processes.Include how each measure is different between two types of businesses.
Appendix,

Accepted Answer

Delivery cycle time is the time between

Question 12

When using the balanced scorecard to monitor performance,the learning and growth 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 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 creating products and hiring employees with skills to create product and deliver them in a timely manner? 
C) Are we meeting our stakeholders' expectations? 
D) Are we growing in a manner to be competitive in the industry?

Question 13

A balanced scorecard

Accepted Answer

A) integrates performance measures across four different perspectives. 
B) assists in communicating the corporate strategy throughout the organization. 
C) helps managers understand the interrelationships between various areas of an organization. 
D) All of these answer choices are correct. 
A) integrates performance measures across four different perspectives. 
B) assists in communicating the corporate strategy throughout the organization. 
C) helps managers understand the interrelationships between various areas of an organization. 
D) All of these answer choices are correct.

Question 14

Which of the following strategies relate to the learning and growth perspective?

Accepted Answer

A) Develop trained workforce and develop reputation for quick turnaround 
B) Develop trained workforce and infuse corporate culture of quality throughout workforce 
C) Develop trained workforce and achieve operational excellence 
D) Develop trained workforce and retain and grow customer base 
A) Develop trained workforce and develop reputation for quick turnaround 
B) Develop trained workforce and infuse corporate culture of quality throughout workforce 
C) Develop trained workforce and achieve operational excellence 
D) Develop trained workforce and retain and grow customer base

Question 15

Indicators that measure successful progression toward the organization's goals are referred to as

Accepted Answer

A) key performance indicators. 
B) specific indicators. 
C) lagging indicators. 
D) dashboard indicators. 
A) key performance indicators. 
B) specific indicators. 
C) lagging indicators. 
D) dashboard indicators.

Question 16

Which of the following is not a measure that relates to the internal business processes perspective?

Accepted Answer

A) Percentage of on-time deliveries 
B) Response time to customer request 
C) Delivery cycle time 
D) Product return rate 
A) Percentage of on-time deliveries 
B) Response time to customer request 
C) Delivery cycle time 
D) Product return rate

Question 17

The balanced scorecard assists in communicating the corporate strategy throughout the organization.

Accepted Answer

A) True 
 B)False

Question 18

A performance measure is actionable if

Accepted Answer

A) something can be done to influence its value. 
B) it is complete and accurate. 
C) it is clearly and directly related to the process it measures. 
D) it is based on actual results rather than on estimates. 
A) something can be done to influence its value. 
B) it is complete and accurate. 
C) it is clearly and directly related to the process it measures. 
D) it is based on actual results rather than on estimates.

Question 19

The goal of benchmarking is to identify those best practices that improve both quality and productivity.

Accepted Answer

A) True 
 B)False

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

After selecting the appropriate measures,managers should

Which of the following strategies relates to the financial perspective?

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

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.

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

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.

Measures that can be determined only after something is finished are called

Which of the following is not an example of an internal operating nonfinancial measure?

Which of the following statements is correct regarding benchmarking?

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

A balanced scorecard

Which of the following strategies relate to the learning and growth perspective?

Indicators that measure successful progression toward the organization's goals are referred to as

Which of the following is not a measure that relates to the internal business processes perspective?

The balanced scorecard assists in communicating the corporate strategy throughout the organization.

A performance measure is actionable if

The goal of benchmarking is to identify those best practices that improve both quality and productivity.

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

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

After selecting the appropriate measures,managers should

Which of the following strategies relates to the financial perspective?

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

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.

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

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.

Measures that can be determined only after something is finished are called

Which of the following is not an example of an internal operating nonfinancial measure?

Which of the following statements is correct regarding benchmarking?

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

A balanced scorecard

Which of the following strategies relate to the learning and growth perspective?

Indicators that measure successful progression toward the organization's goals are referred to as

Which of the following is not a measure that relates to the internal business processes perspective?

The balanced scorecard assists in communicating the corporate strategy throughout the organization.

A performance measure is actionable if

The goal of benchmarking is to identify those best practices that improve both quality and productivity.

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

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