Question 1

Input standards differ from output standards in that input standards measure ________.

Accepted Answer

A) actual outcomes 
B) earnings per share 
C) work results 
D) work efforts 
E) error rates 
A) actual outcomes 
B) earnings per share 
C) work results 
D) work efforts 
E) error rates

Question 2

Inventory turnover = ________

Accepted Answer

A) Current Assets - Inventories/Current Liabilities 
B) Net Income/Total Assets 
C) Total Debts/Total Inventories 
D) Net Income/Owner's Equity 
E) Sales/Average Inventory 
A) Current Assets - Inventories/Current Liabilities 
B) Net Income/Total Assets 
C) Total Debts/Total Inventories 
D) Net Income/Owner's Equity 
E) Sales/Average Inventory

Question 3

The potential for ________ is enhanced when capable people have a clear sense of organizational mission,know their goals,and have the resources necessary to do their jobs well.

Accepted Answer

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

Question 4

Calculate sales if the expenses incurred is $160,000 and the net margin is 75%.

Accepted Answer

A) $480,000 
B) $640,000 
C) $360,000 
D) $570,000 
E) $600,000 
A) $480,000 
B) $640,000 
C) $360,000 
D) $570,000 
E) $600,000

Question 5

What is management by exception?

Accepted Answer

A) It is the point where performance objectives identify key results that one wants to accomplish. 
B) It is the situation where outputs are difficult or expensive to measure. 
C) It is the point where output standards and input standards are used to carefully document results. 
D) It is the point where past experience becomes the baseline for evaluating current performance. 
E) It is the practice of giving attention to situations that show the greatest need for action. 
A) It is the point where performance objectives identify key results that one wants to accomplish. 
B) It is the situation where outputs are difficult or expensive to measure. 
C) It is the point where output standards and input standards are used to carefully document results. 
D) It is the point where past experience becomes the baseline for evaluating current performance. 
E) It is the practice of giving attention to situations that show the greatest need for action.

Question 6

________ is a combination of the critical path method and the program evaluation and review technique.

Accepted Answer

A) Gantt chart 
B) CPM/PERT 
C) Pie chart 
D) Bar diagram 
E) Run chart 
A) Gantt chart 
B) CPM/PERT 
C) Pie chart 
D) Bar diagram 
E) Run chart

Question 7

Which of the following is true of feedforward control?

Accepted Answer

A) It focuses on what happens during the work process. 
B) It is preventive in nature. 
C) It is largely reactive. 
D) It solves problems as they occur. 
E) It focuses on the quality of end results rather than on inputs. 
A) It focuses on what happens during the work process. 
B) It is preventive in nature. 
C) It is largely reactive. 
D) It solves problems as they occur. 
E) It focuses on the quality of end results rather than on inputs.

Question 8

Leverage measures the ability of a firm to meet short-term obligations.

Accepted Answer

A) True 
 B)False

Question 9

An internal control strategy requires a high degree of trust.

Accepted Answer

A) True 
 B)False

Question 10

Business firms show the influence of market control in the way that they adjust products,pricing,promotions,and other practices in response to customer feedback and what competitors are doing.

Accepted Answer

A) True 
 B)False

Question 11

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 12

Which of the following statements is true about the first step of the control process?

Accepted Answer

A) It involves the identification of key results that one wants to accomplish,by the performance objectives. 
B) It first involves the identification of the standards of measuring performance and then the identification of key results. 
C) It identifies the point where output standards and input standards are used to carefully document results. 
D) It involves relative comparisons that benchmark performance against that being achieved by other people,work units,or organizations. 
E) It focuses attention on substantial differences between actual and desired performance. 
A) It involves the identification of key results that one wants to accomplish,by the performance objectives. 
B) It first involves the identification of the standards of measuring performance and then the identification of key results. 
C) It identifies the point where output standards and input standards are used to carefully document results. 
D) It involves relative comparisons that benchmark performance against that being achieved by other people,work units,or organizations. 
E) It focuses attention on substantial differences between actual and desired performance.

Question 13

A balance sheet shows profits or losses of a business at a point in time.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following is the formula for measuring asset turnover?

Accepted Answer

A) Current Assets/Current Liabilities 
B) Current Assets - Inventories/Current Liabilities 
C) Sales/Total Assets 
D) Net Income/Total Assets 
E) Total Debts/Total Assets 
A) Current Assets/Current Liabilities 
B) Current Assets - Inventories/Current Liabilities 
C) Sales/Total Assets 
D) Net Income/Total Assets 
E) Total Debts/Total Assets

Question 15

The goal of concurrent controls is to solve problems as they occur.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following best describes controlling?

Accepted Answer

A) The process of deciding where an individual should go and how to best go about it 
B) The process of inspiring people to best utilize the resources 
C) The process of bringing people and material resources together in working combinations 
D) The process of setting directions and allocating resources 
E) The process of measuring performance and taking action to ensure desired results 
A) The process of deciding where an individual should go and how to best go about it 
B) The process of inspiring people to best utilize the resources 
C) The process of bringing people and material resources together in working combinations 
D) The process of setting directions and allocating resources 
E) The process of measuring performance and taking action to ensure desired results

Question 17

Feedback control takes place to:

Accepted Answer

A) correct mistakes already made. 
B) solve problems as they occur. 
C) focus on activities before they begin. 
D) ensure the implementation of a proactive approach to problem solving. 
E) ensure direct supervision during the work process. 
A) correct mistakes already made. 
B) solve problems as they occur. 
C) focus on activities before they begin. 
D) ensure the implementation of a proactive approach to problem solving. 
E) ensure direct supervision during the work process.

Question 18

Calculate average inventory if sales is $400,000 and the inventory turnover is 1.6.

Accepted Answer

A) $280,000 
B) $250,000 
C) $150,000 
D) $180,000 
E) $140,000 
A) $280,000 
B) $250,000 
C) $150,000 
D) $180,000 
E) $140,000

Question 19

Return on assets = ________

Accepted Answer

A) Current Assets/Current Liabilities 
B) Sales/Total Assets 
C) Total Debts/Total Assets 
D) Net Income/Total Assets 
E) Current Assets - Inventories/Current Liabilities 
A) Current Assets/Current Liabilities 
B) Sales/Total Assets 
C) Total Debts/Total Assets 
D) Net Income/Total Assets 
E) Current Assets - Inventories/Current Liabilities

Question 20

The clan control influences employees and members to display common behavior patterns.

Accepted Answer

A) True 
 B)False

Input standards differ from output standards in that input standards measure ________.

Inventory turnover = ________

The potential for ________ is enhanced when capable people have a clear sense of organizational mission,know their goals,and have the resources necessary to do their jobs well.

Calculate sales if the expenses incurred is $160,000 and the net margin is 75%.

What is management by exception?

________ is a combination of the critical path method and the program evaluation and review technique.

Which of the following is true of feedforward control?

Leverage measures the ability of a firm to meet short-term obligations.

An internal control strategy requires a high degree of trust.

Business firms show the influence of market control in the way that they adjust products,pricing,promotions,and other practices in response to customer feedback and what competitors are doing.

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

Which of the following statements is true about the first step of the control process?

A balance sheet shows profits or losses of a business at a point in time.

Which of the following is the formula for measuring asset turnover?

The goal of concurrent controls is to solve problems as they occur.

Which of the following best describes controlling?

Feedback control takes place to:

Calculate average inventory if sales is $400,000 and the inventory turnover is 1.6.

Return on assets = ________

The clan control influences employees and members to display common behavior patterns.

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

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

Input standards differ from output standards in that input standards measure ________.

Inventory turnover = ________

The potential for ________ is enhanced when capable people have a clear sense of organizational mission,know their goals,and have the resources necessary to do their jobs well.

Calculate sales if the expenses incurred is $160,000 and the net margin is 75%.

What is management by exception?

________ is a combination of the critical path method and the program evaluation and review technique.

Which of the following is true of feedforward control?

Leverage measures the ability of a firm to meet short-term obligations.

An internal control strategy requires a high degree of trust.

Business firms show the influence of market control in the way that they adjust products,pricing,promotions,and other practices in response to customer feedback and what competitors are doing.

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

Which of the following statements is true about the first step of the control process?

A balance sheet shows profits or losses of a business at a point in time.

Which of the following is the formula for measuring asset turnover?

The goal of concurrent controls is to solve problems as they occur.

Which of the following best describes controlling?

Feedback control takes place to:

Calculate average inventory if sales is $400,000 and the inventory turnover is 1.6.

Return on assets = ________

The clan control influences employees and members to display common behavior patterns.

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

Human Resource Management

Leading and Leadership Development

Individual Behavior

Motivation Theory and Practice

Teams and Teamwork

Communication and Collaboration

Operations and Services Management

Filters