Question 1

An after-action review is a structured review of lessons learned and results accomplished on a completed project.

Accepted Answer

A) True 
 B)False

Question 2

Concurrent controls, or steering controls, focus on the end results of an activity rather than the inputs or the activities.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following is true of a bureaucratic control system?

Accepted Answer

A)  It influences employees and members to display common behaviour patterns. 
B)  It harnesses the power of group cohesiveness and collective identity. 
C)  It expects people to work on their own as they are given the freedom to do so. 
D)  It allows and encourages people to exercise self-discipline in performing their jobs. 
E)  It provides laws and regulations that govern the behaviour of an organization's top executives. 
A)  It influences employees and members to display common behaviour patterns. 
B)  It harnesses the power of group cohesiveness and collective identity. 
C)  It expects people to work on their own as they are given the freedom to do so. 
D)  It allows and encourages people to exercise self-discipline in performing their jobs. 
E)  It provides laws and regulations that govern the behaviour of an organization's top executives.

Question 4

In which of the following systems of control do organizations use budgets for personnel, equipment, travel expenses, and so on to keep behaviour targeted within set limits?

Accepted Answer

A)  bureaucratic control 
B)  clan control 
C)  normative control 
D)  regulatory control 
E)  self-control 
A)  bureaucratic control 
B)  clan control 
C)  normative control 
D)  regulatory control 
E)  self-control

Question 5

Antonio has been working very hard since the establishment of his retail business. He is not far from the time when his revenues will match his expenses. Which of the following would best represent the time described?

Accepted Answer

A)  just-in-time scheduling 
B)  base period 
C)  monetary overhang 
D)  breakeven point 
E)  buy-down 
A)  just-in-time scheduling 
B)  base period 
C)  monetary overhang 
D)  breakeven point 
E)  buy-down

Question 6

Control that flows through the organizations hierarchy of authority is called Autocratic control.

Accepted Answer

A) True 
 B)False

Question 7

Calculate the quick ratio from the following information of a manufacturing firm: Cash in hand = $200,000
Cash at bank = $100,000
Inventories = $100,000.
Current Liabilities = $100,000.

Accepted Answer

A)  2:1 
B)  1:2 
C)  3:1 
D)  4:1 
E)  2:2 
A)  2:1 
B)  1:2 
C)  3:1 
D)  4:1 
E)  2:2

Question 8

The potential for self-control is increased when people have a clear sense of organizational mission, know their performance goals, have the necessary resources to do their jobs well, treat each other with respect and consideration, and work in a participative organizational culture.

Accepted Answer

A) True 
 B)False

Question 9

When predicting a company's ability to generate cash in order to meet its bill payments, the ___ ratio needs to be calculated.

Accepted Answer

A)  leverage 
B)  activity 
C)  profitability 
D)  liquidity 
E)  asset management 
A)  leverage 
B)  activity 
C)  profitability 
D)  liquidity 
E)  asset management

Question 10

Developing a balanced scorecard for any organization begins with a clarification of the organization's mission and vision.

Accepted Answer

A) True 
 B)False

Question 11

Planning ensures that performance is consistent with plans, and that accomplishments throughout an organization are coordinated in a means-ends fashion.

Accepted Answer

A) True 
 B)False

Question 12

Calculate owner's equity from the following information: Expenses $700,000
Return on equity 40%
Total Assets $2,050,000
Sales $1,500,000.

Accepted Answer

A)  $2,000,000 
B)  $800,000 
C)  $375,000 
D)  $1,250,000 
E)  $820,000 
A)  $2,000,000 
B)  $800,000 
C)  $375,000 
D)  $1,250,000 
E)  $820,000

Question 13

The central question of feedback control is: "Now that we have completed our process, how did we do?"

Accepted Answer

A) True 
 B)False

Question 14

A feedback control system focuses on ___.

Accepted Answer

A)  work inputs 
B)  work objectives 
C)  work throughputs 
D)  work responsibilities 
E)  work outputs 
A)  work inputs 
B)  work objectives 
C)  work throughputs 
D)  work responsibilities 
E)  work outputs

Question 15

An internal control strategy requires a high degree of trust.

Accepted Answer

A) True 
 B)False

Question 16

A problem situation is one that must be understood so corrective action can restore performance to the desired level.

Accepted Answer

A) True 
 B)False

Question 17

The management function, which sees to it that the right things happen, in the right way, and at the right time, is known as ___.

Accepted Answer

A)  controlling 
B)  organizing 
C)  planning 
D)  leading 
E)  staffing 
A)  controlling 
B)  organizing 
C)  planning 
D)  leading 
E)  staffing

Question 18

Rex's doughnuts can produce only 100 doughnuts a day. The variable cost incurred per unit is $2 and fixed costs incurred per day is $500. At what price should a doughnut be sold to break even?

Accepted Answer

A)  $10 
B)  $5 
C)  $7 
D)  $4 
E)  $8 
A)  $10 
B)  $5 
C)  $7 
D)  $4 
E)  $8

Question 19

Which of the following is true of critical path?

Accepted Answer

A)  It is essential to perform what-if calculations under different projected cost and revenue conditions. 
B)  It acts as the foundation for analysis using financial controls by using the firm's balance sheet and income statement. 
C)  It automatically orders a fixed number of items every time an inventory level falls to a predetermined point. 
D)  It represents the quickest time in which the entire project can be finished, assuming everything goes according to schedule and plans. 
E)  It gives top managers, a fast, but comprehensive view of the business. 
A)  It is essential to perform what-if calculations under different projected cost and revenue conditions. 
B)  It acts as the foundation for analysis using financial controls by using the firm's balance sheet and income statement. 
C)  It automatically orders a fixed number of items every time an inventory level falls to a predetermined point. 
D)  It represents the quickest time in which the entire project can be finished, assuming everything goes according to schedule and plans. 
E)  It gives top managers, a fast, but comprehensive view of the business.

Question 20

In the context of financial controls, asset management refers to the ability to ___.

Accepted Answer

A)  use resources efficiently and operate at minimum cost 
B)  earn more in returns than the cost of debt 
C)  earn revenues greater than costs 
D)  meet short-term obligations 
E)  generate cash to pay bills 
A)  use resources efficiently and operate at minimum cost 
B)  earn more in returns than the cost of debt 
C)  earn revenues greater than costs 
D)  meet short-term obligations 
E)  generate cash to pay bills

An after-action review is a structured review of lessons learned and results accomplished on a completed project.

Concurrent controls, or steering controls, focus on the end results of an activity rather than the inputs or the activities.

Which of the following is true of a bureaucratic control system?

In which of the following systems of control do organizations use budgets for personnel, equipment, travel expenses, and so on to keep behaviour targeted within set limits?

Antonio has been working very hard since the establishment of his retail business. He is not far from the time when his revenues will match his expenses. Which of the following would best represent the time described?

Control that flows through the organizations hierarchy of authority is called Autocratic control.

Calculate the quick ratio from the following information of a manufacturing firm: Cash in hand = $200,000 Cash at bank = $100,000 Inventories = $100,000. Current Liabilities = $100,000.

The potential for self-control is increased when people have a clear sense of organizational mission, know their performance goals, have the necessary resources to do their jobs well, treat each other with respect and consideration, and work in a participative organizational culture.

When predicting a company's ability to generate cash in order to meet its bill payments, the ___ ratio needs to be calculated.

Developing a balanced scorecard for any organization begins with a clarification of the organization's mission and vision.

Planning ensures that performance is consistent with plans, and that accomplishments throughout an organization are coordinated in a means-ends fashion.

Calculate owner's equity from the following information: Expenses $700,000 Return on equity 40% Total Assets $2,050,000 Sales $1,500,000.

The central question of feedback control is: "Now that we have completed our process, how did we do?"

A feedback control system focuses on ___.

An internal control strategy requires a high degree of trust.

A problem situation is one that must be understood so corrective action can restore performance to the desired level.

The management function, which sees to it that the right things happen, in the right way, and at the right time, is known as ___.

Rex's doughnuts can produce only 100 doughnuts a day. The variable cost incurred per unit is $2 and fixed costs incurred per day is $500. At what price should a doughnut be sold to break even?

Which of the following is true of critical path?

In the context of financial controls, asset management refers to the ability to ___.

Introducing Management

Management Learning Past to Present

Ethics and Social Responsibility

Environment, Innovation, and Sustainability

Global Management and Cultural Diversity

Entrepreneurship and New Ventures

Information and Decision Making

Planning Processes and Techniques

Strategy and Strategic Management

Organization Structures and Design

Organization Culture and Change

Strategic Human Resource Management

Leading and Leadership Development

Individual Behavior

Motivation Theory and Practice

Teams and Teamwork

Communication and Collaboration

Operations and Services Management

Filters

Exam 9: Control Processes and Systems

An after-action review is a structured review of lessons learned and results accomplished on a completed project.

Concurrent controls, or steering controls, focus on the end results of an activity rather than the inputs or the activities.

Which of the following is true of a bureaucratic control system?

In which of the following systems of control do organizations use budgets for personnel, equipment, travel expenses, and so on to keep behaviour targeted within set limits?

Antonio has been working very hard since the establishment of his retail business. He is not far from the time when his revenues will match his expenses. Which of the following would best represent the time described?

Control that flows through the organizations hierarchy of authority is called Autocratic control.

Calculate the quick ratio from the following information of a manufacturing firm: Cash in hand = $200,000 Cash at bank = $100,000 Inventories = $100,000. Current Liabilities = $100,000.

The potential for self-control is increased when people have a clear sense of organizational mission, know their performance goals, have the necessary resources to do their jobs well, treat each other with respect and consideration, and work in a participative organizational culture.

When predicting a company's ability to generate cash in order to meet its bill payments, the ___ ratio needs to be calculated.

Developing a balanced scorecard for any organization begins with a clarification of the organization's mission and vision.

Planning ensures that performance is consistent with plans, and that accomplishments throughout an organization are coordinated in a means-ends fashion.

Calculate owner's equity from the following information: Expenses $700,000 Return on equity 40% Total Assets $2,050,000 Sales $1,500,000.

The central question of feedback control is: "Now that we have completed our process, how did we do?"

A feedback control system focuses on ___.

An internal control strategy requires a high degree of trust.

A problem situation is one that must be understood so corrective action can restore performance to the desired level.

The management function, which sees to it that the right things happen, in the right way, and at the right time, is known as ___.

Rex's doughnuts can produce only 100 doughnuts a day. The variable cost incurred per unit is $2 and fixed costs incurred per day is $500. At what price should a doughnut be sold to break even?

Which of the following is true of critical path?

In the context of financial controls, asset management refers to the ability to ___.

Introducing Management

Management Learning Past to Present

Ethics and Social Responsibility

Environment, Innovation, and Sustainability

Global Management and Cultural Diversity

Entrepreneurship and New Ventures

Information and Decision Making

Planning Processes and Techniques

Strategy and Strategic Management

Organization Structures and Design

Organization Culture and Change

Strategic Human Resource Management

Leading and Leadership Development

Individual Behavior

Motivation Theory and Practice

Teams and Teamwork

Communication and Collaboration

Operations and Services Management

Filters