Exam 7: Performance Management and Evaluation

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Many organizations utilize responsibility accounting

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In evaluating investment center performance, ROI proves to be such a comprehensive performance measure that other performance measures are rarely needed.

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A manager can improve EVA by

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Compute the return on investment (rounded to nearest percent) for the Tim Tom investment center as shown below. Tim Tom Subsidiary Total sales \ 1,600 Operating income \ 180 Average assets invested \ 900 Profit margin ? Asset turnover ? ROI ?

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ROI, residual income, and economic value added all represent performance measures that can be utilized to determine investment center performance.

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The alignment of an organization's strategy with all the perspectives of the balanced scorecard results in performance objectives that benefit all stakeholders.

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Variable costing is a method of reporting that deals only with a manager's controllable, variable costs.

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Standard costing would most often require which type of performance evaluation?

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Use the following performance report for a profit center of the Wet Cat Food Company for the month ended December 31 to answer the question below. Use the following performance report for a profit center of the Wet Cat Food Company for the month ended December 31 to answer the question below.   - What were the actual sales? - What were the actual sales?

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The equation for economic value added includes pretax operating income as well as current liabilities.

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As the staff accountant for NYC Investment Center #1, compute the center's EVA, using the following information: Pretax Operating income \ 900,000 Income taxes 270,000 Total assets 1,500,000 Total liabilities 1,000,000 Longterm liabilities 100,000 Cost of capital 55\%

(Essay)
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Which of the following represents a basic stakeholder of an organization?

(Multiple Choice)
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When developing performance measures, management must consider a number of different issues besides what to measure and how to measure.

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The CEO of Buckstars is interested in reviewing the May 20xx performance report for Cost Center 7-11. Prepare a brief performance report for the CEO utilizing the following information for Cost Center 7-11. Line items should be broken out between direct materials, direct labor, variable overhead, and fixed overhead. Actual Results Flexible Budget Master Budget Ground coffee \ 1,350 \ 1,200 \ 1,270 Flavored syrups 2,300 2,320 3,000 Milk 350 300 950 Servers wages 3,500 3,800 3,600 Stppervisor's salary 5,000 5,000 5,000 Espressso machine repair 50 120 150

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Awards are often used to encourage

(Multiple Choice)
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Which of the following represents the number of sales dollars generated by each dollar invested in assets?

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