Question 1

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

Accepted Answer

A) Customer 
B) Financial 
C) Learning and growing 
D) All of these answer choices are balanced scorecard perspectives. 
A) Customer 
B) Financial 
C) Learning and growing 
D) All of these answer choices are balanced scorecard perspectives.

Question 2

According to a Bain & Company survey,approximately what percentage of global business executives use a balanced scorecard to monitor performance?

Accepted Answer

A) 16% 
B) 72% 
C) 38% 
D) 91% 
A) 16% 
B) 72% 
C) 38% 
D) 91%

Question 3

Benchmarking does not require an organization to share

Accepted Answer

A) Processes. 
B) Process metrics. 
C) Proprietary information. 
D) None of these answer choices are correct. 
A) Processes. 
B) Process metrics. 
C) Proprietary information. 
D) None of these answer choices are correct.

Question 4

A difference in quantitative indicators and qualitative indicators is

Accepted Answer

A) quantitative indicators are the same regardless of who is doing the measuring whereas qualitative indicators will differ among individual since each one has a unique perspective. 
B) qualitative indicators are subjective while quantitative indicators are objective. 
C) both quantitative indicators are the same regardless of who is doing the measuring whereas qualitative indicators will differ among individual since each one has a unique perspective and qualitative indicators are subjective while quantitative indicators are objective. 
D) neither quantitative indicators are the same regardless of who is doing the measuring whereas qualitative indicators will differ among individual since each one has a unique perspective nor qualitative indicators are subjective while quantitative indicators are objective. 
A) quantitative indicators are the same regardless of who is doing the measuring whereas qualitative indicators will differ among individual since each one has a unique perspective. 
B) qualitative indicators are subjective while quantitative indicators are objective. 
C) both quantitative indicators are the same regardless of who is doing the measuring whereas qualitative indicators will differ among individual since each one has a unique perspective and qualitative indicators are subjective while quantitative indicators are objective. 
D) neither quantitative indicators are the same regardless of who is doing the measuring whereas qualitative indicators will differ among individual since each one has a unique perspective nor qualitative indicators are subjective while quantitative indicators are objective.

Question 5

Community Hospital is reassessing their performance measurements. The hospital accounting administrator has asked supervisors to submit items they believe should be used in evaluating performance related to their individual departments. The supervisors have submitted a number of suggestions. Indicate by placing an “X” in the appropriate column whether the following measures are leading or lagging and qualitative or quantitative. Each item may classify as more than one measure.

Accepted Answer

The answer of Community Hospital is reassessing their performance measurements....

Question 6

Patton's Manufacturing has provided the following information relating to a large order of Part 328G7 engines.
   Required:
Calculate the manufacturing cycle efficiency.
Appendix,

Accepted Answer

2 + 14/1 +

Question 7

A performance dashboard is a visual display of the key measures related to an organization's operational goals and strategies.

Accepted Answer

A) True 
 B)False

Question 8

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

Accepted Answer

A) Time to market 
B) Market share 
C) Revenue growth 
D) Defect rate 
A) Time to market 
B) Market share 
C) Revenue growth 
D) Defect rate

Question 9

Which of the following is not a main barrier to the effective use of nonfinancial performance measures by organizations?

Accepted Answer

A) Skepticism that the measures are directly related to the bottom line 
B) Lack of management skill needed to implement the measures 
C) Lack of familiarity with the measures on the part of the board members 
D) Undeveloped tools for analyzing the measures 
A) Skepticism that the measures are directly related to the bottom line 
B) Lack of management skill needed to implement the measures 
C) Lack of familiarity with the measures on the part of the board members 
D) Undeveloped tools for analyzing the measures

Question 10

On January 4th,Stevens Manufacturing received an order for 30 uniforms.The following information pertained to that order. Hours Required
Receive and process order 0.25
Waiting for production to begin 1.25
Cutting 50.00
Sewing and lettering 300.00
Moving materials from one station to another 20.00
Waiting for an operation to begin 95.00
Packaging 35.00
Loading to be shipped 0.50
In transit to customer 5.00
Calculate the delivery cycle time.

Accepted Answer

A) 500 hours 
B) 507 hours 
C) 502 hours 
D) 505 hours 
A) 500 hours 
B) 507 hours 
C) 502 hours 
D) 505 hours

Question 11

Before deciding whether a measure is a leading or lagging indicator,a manager should be sure to know

Accepted Answer

A) what event the measure is related to. 
B) whether the measure is used by other companies in the industry. 
C) both what event the measure is related to and whether the measure is used by other companies in the industry. 
D) neither what event the measure is related to nor whether the measure is used by other companies in the industry. 
A) what event the measure is related to. 
B) whether the measure is used by other companies in the industry. 
C) both what event the measure is related to and whether the measure is used by other companies in the industry. 
D) neither what event the measure is related to nor whether the measure is used by other companies in the industry.

Question 12

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 13

Which of the following strategies relates 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

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 15

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 16

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

Accepted Answer

A) Market share 
B) Product return rate 
C) Delivery cycle time 
D) Percentage of revenue from new customers 
A) Market share 
B) Product return rate 
C) Delivery cycle time 
D) Percentage of revenue from new customers

Question 17

Lagging indicators can be used to predict future results.

Accepted Answer

A) True 
 B)False

Question 18

The time between an order's placement and its shipment is referred to as

Accepted Answer

A) Delivery cycle time. 
B) Production cycle time. 
C) Sales order cycle time. 
D) Throughput time. 
A) Delivery cycle time. 
B) Production cycle time. 
C) Sales order cycle time. 
D) Throughput time.

Question 19

A performance dashboard does which of the following?

Accepted Answer

A) Offers a visual display of key performance measures 
B) Offers managers the opportunity to drill down into the data to obtain information 
C) Both offers a visual display of key performance measures and offers managers the opportunity to drill down into the data to obtain information 
D) Neither offers a visual display of key performance measures nor offers managers the opport 
A) Offers a visual display of key performance measures 
B) Offers managers the opportunity to drill down into the data to obtain information 
C) Both offers a visual display of key performance measures and offers managers the opportunity to drill down into the data to obtain information 
D) Neither offers a visual display of key performance measures nor offers managers the opport

Question 20

Which of the following uses five to seven measures of performance across four perspectives?

Accepted Answer

A) Balanced scorecard 
B) Key performance measure 
C) Performance dashboard 
D) Leading and lagging indicators 
A) Balanced scorecard 
B) Key performance measure 
C) Performance dashboard 
D) Leading and lagging indicators

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

According to a Bain & Company survey,approximately what percentage of global business executives use a balanced scorecard to monitor performance?

Benchmarking does not require an organization to share

A difference in quantitative indicators and qualitative indicators is

Patton's Manufacturing has provided the following information relating to a large order of Part 328G7 engines. Required: Calculate the manufacturing cycle efficiency. Appendix,

A performance dashboard is a visual display of the key measures related to an organization's operational goals and strategies.

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

Which of the following is not a main barrier to the effective use of nonfinancial performance measures by organizations?

Before deciding whether a measure is a leading or lagging indicator,a manager should be sure to know

Perfect manufacturing cycle efficiency would yield a ratio equal to

Which of the following strategies relates to the customer perspective?

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

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.

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

Lagging indicators can be used to predict future results.

The time between an order's placement and its shipment is referred to as

A performance dashboard does which of the following?

Which of the following uses five to seven measures of performance across four perspectives?

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?

According to a Bain & Company survey,approximately what percentage of global business executives use a balanced scorecard to monitor performance?

Benchmarking does not require an organization to share

A difference in quantitative indicators and qualitative indicators is

Patton's Manufacturing has provided the following information relating to a large order of Part 328G7 engines. Required: Calculate the manufacturing cycle efficiency. Appendix,

A performance dashboard is a visual display of the key measures related to an organization's operational goals and strategies.

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

Which of the following is not a main barrier to the effective use of nonfinancial performance measures by organizations?

Before deciding whether a measure is a leading or lagging indicator,a manager should be sure to know

Perfect manufacturing cycle efficiency would yield a ratio equal to

Which of the following strategies relates to the customer perspective?

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

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.

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

Lagging indicators can be used to predict future results.

The time between an order's placement and its shipment is referred to as

A performance dashboard does which of the following?

Which of the following uses five to seven measures of performance across four perspectives?

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