Question 1

After Denise's restaurant opened,she spent the first two weeks closely correcting any flaws she found in the way the business operated.This is an example of ________ control.

Accepted Answer

A)  feedforward
B)  concurrent
C)  clan
D)  market
E)  proactiveF) B) and E)
G) None of the above

Question 2

An itemized financial statement of the income and expenses of a company's operations is called the

Accepted Answer

A)  statement of financial ratios.
B)  balance sheet.
C)  cash flow statement.
D)  assets and liabilities statement.
E)  profit and loss statement.F) None of the above
G) A) and E)

Question 3

Which of the following is one of the factors on which performance standards can be set?

Accepted Answer

A)  the principle of exception
B)  knowledge
C)  market share
D)  employee satisfaction
E)  qualityF) B) and E)
G) C) and E)

Question 4

Procedures used to verify accounting reports and statements are referred to as

Accepted Answer

A)  lean accounting.
B)  accounting audits.
C)  activity-based costing.
D)  accounting reforms.
E)  budget audits.F) A) and B)
G) C) and D)

Question 5

A company's balance sheet shows its

Accepted Answer

A)  areas of improvement.
B)  projected profit.
C)  strengths,weaknesses,and threats.
D)  financial picture at a given time.
E)  performance over time.F) A) and C)
G) B) and E)

Question 6

Which of the following is the most pertinent argument against market control mechanisms?

Accepted Answer

A)  They rely too heavily on rules and procedures and result in company rigidity.
B)  Economic measures do not adequately reflect the complete value of an organization.
C)  They are too dependent on organization culture,thus hindering communication.
D)  Hierarchical structure is the only valid way to determine the future success of an organization.
E)  Decision making and power are too centralized when they are in use.F) A) and D)
G) A) and C)

Question 7

The price charged by one unit for a good or service provided to another unit within the organization is referred to as a(n) ________ price.

Accepted Answer

A)  substitute
B)  transfer
C)  department
D)  organizational
E)  budgetF) C) and D)
G) All of the above

Question 8

While doing an external audit of a potential distribution partner,Tyrone uncovered some serious legal problems that could cause trouble for his company if it goes through with the deal.Tyrone's external audit provided essential ________ control.

Accepted Answer

A)  feedforward
B)  concurrent
C)  clan
D)  market
E)  feedbackF) B) and D)
G) A) and B)

Question 9

Describe feedforward,feedback,and concurrent control.Give an example of each.

Accepted Answer

Student answers and examples will vary b...

Question 10

Which of the following controls takes place before operations begin?

Accepted Answer

A)  feedback control
B)  clan control
C)  initial control
D)  feedforward control
E)  concurrent controlF) B) and E)
G) C) and E)

Question 11

A ratio of profit to capital used,or a rate of return from capital,is referred to as

Accepted Answer

A)  the debt-equity ratio.
B)  the leverage ratio.
C)  return on investment.
D)  net working capital.
E)  transfer price.F) B) and C)
G) None of the above

Question 12

On the balance sheet,the values of the various items a corporation owns are referred to as

Accepted Answer

A)  liabilities.
B)  debts.
C)  budgets.
D)  assets.
E)  savings.F) A) and C)
G) D) and E)

Question 13

To be effective,control systems should

Accepted Answer

A)  keep performance standards flexible and easy.
B)  focus on one-way top-down communication.
C)  be acceptable to all stockholders.
D)  use multiple control approaches.
E)  centralize decision making.F) D) and E)
G) B) and E)

Question 14

Performance standards can only be set with respect to quantity or quality.

Accepted Answer

A) True 
 B)False

Question 15

A managerial principle stating that control is enhanced by concentrating on the significant deviations from the expected result or standard is referred to as the principle of

Accepted Answer

A)  budgeting.
B)  concentration.
C)  progression.
D)  exception.
E)  standardization.F) A) and C)
G) A) and E)

Question 16

Control that focuses on the use of information about previous results to correct deviations from the acceptable standard is referred to as ________ control.

Accepted Answer

A)  feedforward
B)  preliminary
C)  feedback
D)  audit
E)  performanceF) None of the above
G) B) and C)

Question 17

Laney uses the results of customer surveys to point out ways that her cashiers can improve their service.This is an example of ________ control.

Accepted Answer

A)  feedforward
B)  concurrent
C)  clan
D)  market
E)  feedbackF) D) and E)
G) A) and C)

Question 18

Which of the following statements about six sigma is true?

Accepted Answer

A)  Six sigma was developed at the Ford Company during the 1970s.
B)  The lower the sigma number,the lower the level of defects.
C)  Six sigma is designed only to reduce product defects.
D)  Six sigma indicates how often defects in a process are likely to occur.
E)  Six sigma always improves the bottom line.F) D) and E)
G) A) and C)

Question 19

The executives at Old-Fashioned Evening Inc. ,a chain of restaurants that feature wholesome activities for young couples,believe that the company's employees share the corporate goals of service,quality,value,and "good clean fun." Because of this,corporate leadership believes that employees are motivated to work for the common good without a lot of formal controls.This is an example of ________ control.

Accepted Answer

A)  feedforward
B)  market
C)  feedback
D)  concurrent
E)  clanF) A) and B)
G) C) and D)

Question 20

Before you can measure performance,what must you do?

Accepted Answer

A)  evaluate employees
B)  improve performance
C)  set performance standards
D)  analyze market conditions
E)  experiment with methodsF) C) and D)
G) All of the above

Exam 16: Managerial Control

The price charged by one unit for a good or service provided to another unit within the organization is referred to as a(n) ________ price.

Correct Answer
verified

Which of the following statements about six sigma is true?

Correct Answer
verified

On the balance sheet,the values of the various items a corporation owns are referred to as

Correct Answer
verified

Describe feedforward,feedback,and concurrent control.Give an example of each.

Correct Answer
verified
Student answers and examples will vary b...
View Answer

Correct Answer
verified

A managerial principle stating that control is enhanced by concentrating on the significant deviations from the expected result or standard is referred to as the principle of

Correct Answer
verified

To be effective,control systems should

Correct Answer
verified

Performance standards can only be set with respect to quantity or quality.

Correct Answer
verified

Which of the following is one of the factors on which performance standards can be set?

Correct Answer
verified

Laney uses the results of customer surveys to point out ways that her cashiers can improve their service.This is an example of ________ control.

Correct Answer
verified

A company's balance sheet shows its

Correct Answer
verified

An itemized financial statement of the income and expenses of a company's operations is called the

Correct Answer
verified

While doing an external audit of a potential distribution partner,Tyrone uncovered some serious legal problems that could cause trouble for his company if it goes through with the deal.Tyrone's external audit provided essential ________ control.

Correct Answer
verified

A ratio of profit to capital used,or a rate of return from capital,is referred to as

Correct Answer
verified

After Denise's restaurant opened,she spent the first two weeks closely correcting any flaws she found in the way the business operated.This is an example of ________ control.

Correct Answer
verified

Control that focuses on the use of information about previous results to correct deviations from the acceptable standard is referred to as ________ control.

Correct Answer
verified

Which of the following is the most pertinent argument against market control mechanisms?

Correct Answer
verified

Before you can measure performance,what must you do?

Correct Answer
verified

Procedures used to verify accounting reports and statements are referred to as

Correct Answer
verified

Which of the following controls takes place before operations begin?

Correct Answer
verified

Exam 16: Managerial Control

The price charged by one unit for a good or service provided to another unit within the organization is referred to as a(n) ________ price.

Correct AnswerverifiedShow Answer

Which of the following statements about six sigma is true?

Correct AnswerverifiedShow Answer

On the balance sheet,the values of the various items a corporation owns are referred to as

Correct AnswerverifiedShow Answer

Describe feedforward,feedback,and concurrent control.Give an example of each.

Correct AnswerverifiedStudent answers and examples will vary b...View AnswerShow Answer

Correct AnswerverifiedShow Answer

A managerial principle stating that control is enhanced by concentrating on the significant deviations from the expected result or standard is referred to as the principle of

Correct AnswerverifiedShow Answer

To be effective,control systems should

Correct AnswerverifiedShow Answer

Performance standards can only be set with respect to quantity or quality.

Correct AnswerverifiedShow Answer

Which of the following is one of the factors on which performance standards can be set?

Correct AnswerverifiedShow Answer

Laney uses the results of customer surveys to point out ways that her cashiers can improve their service.This is an example of ________ control.

Correct AnswerverifiedShow Answer

A company's balance sheet shows its

Correct AnswerverifiedShow Answer

An itemized financial statement of the income and expenses of a company's operations is called the

Correct AnswerverifiedShow Answer

While doing an external audit of a potential distribution partner,Tyrone uncovered some serious legal problems that could cause trouble for his company if it goes through with the deal.Tyrone's external audit provided essential ________ control.

Correct AnswerverifiedShow Answer

A ratio of profit to capital used,or a rate of return from capital,is referred to as

Correct AnswerverifiedShow Answer

After Denise's restaurant opened,she spent the first two weeks closely correcting any flaws she found in the way the business operated.This is an example of ________ control.

Correct AnswerverifiedShow Answer

Control that focuses on the use of information about previous results to correct deviations from the acceptable standard is referred to as ________ control.

Correct AnswerverifiedShow Answer

Which of the following is the most pertinent argument against market control mechanisms?

Correct AnswerverifiedShow Answer

Before you can measure performance,what must you do?

Correct AnswerverifiedShow Answer

Procedures used to verify accounting reports and statements are referred to as

Correct AnswerverifiedShow Answer

Which of the following controls takes place before operations begin?

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
verified
Student answers and examples will vary b...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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