Question 1

Which of the following is a control system that measures performance in terms of after-tax profits minus the cost of capital invested in tangible assets?

Accepted Answer

A)  Open-book management
B)  Economic value-added system
C)  Activity-based costing
D)  Inappropriate control system
E)  None of theseF) B) and C)
G) B) and E)

Question 2

____ is a contingency factor that can influence the success of a TQM program in a negative way.

Accepted Answer

A)  Continuous improvement is a way of life
B)  TQM serves to enrich jobs and motivate employees
C)  Problem-solving skills are improved for all employees
D)  Participation and teamwork are used to tackle significant problems
E)  Union leaders are left out of QC discussionsF) B) and D)
G) B) and E)

Question 3

Scenario - Katrina Aldridge
The yearly auditing review of Pilgrim Industries is scheduled for next month.Katrina Aldridge is preparing for that audit and is also preparing her budget for the coming year.
-Katrina has also requested that the financial ratios be calculated and analyzed for her.Which of the following ratios will give her the best information for evaluating liquidity?

Accepted Answer

A)  Profit margin on sales
B)  Current ratio
C)  Conversion ratio
D)  Return on assets
E)  None of these.F) A) and B)
G) C) and D)

Question 4

Which of these is based on a set of international standards for quality?

Accepted Answer

A)  Quality circle
B)  Corporate governance
C)  ISO certification
D)  Open-book management
E)  Balance scorecardF) B) and C)
G) B) and D)

Question 5

Pauline is an area manager at Ironman Gym.She anticipates her area's needs and formulates a proposed budget every quarter.She then sends this proposal to her manager.This is an example of

Accepted Answer

A)  top-down budgeting.
B)  strategic budgeting.
C)  revenue budgeting.
D)  bottom-up budgeting.
E)  none of these.F) C) and D)
G) B) and C)

Question 6

Which of the following refers to funding activities with borrowed money?

Accepted Answer

A)  ROA
B)  Leverage
C)  Liquidity
D)  Profitability
E)  ActivityF) C) and D)
G) C) and E)

Question 7

The ____ plans future investments in major assets to be depreciated over several years.

Accepted Answer

A)  capital budget
B)  balance sheet budget
C)  cash budget
D)  revenue budget
E)  profit budgetF) B) and D)
G) B) and C)

Question 8

Describe the difference between a balance sheet and an income statement.

Accepted Answer

A balance sheet shows the firm's financi...

Question 9

In a traditional ____________________ approach,budgeted amounts for the coming year are imposed on middle- and lower-level managers.

Accepted Answer

The answer of In a traditional ____________________ approach,budgeted amounts for...

Question 10

Which of the following is a ratio that measures the firm's internal performance with respect to key activities defined by management?

Accepted Answer

A)  A liquidity ratio
B)  An activity ratio
C)  Return on total assets
D)  A current ratio
E)  Profit margin on salesF) B) and E)
G) A) and D)

Question 11

An organization wide commitment to infusing quality into every activity through continuous improvement is called ____________________.

Accepted Answer

total qual...

Question 12

The ____ offers some indication of the degree to which various countries are open regarding economic matters.

Accepted Answer

A)  Opacity Index
B)  Economic Index
C)  Clarity Index
D)  National Index
E)  Foreign Economy IndexF) C) and E)
G) A) and B)

Question 13

Decentralized control is usually implemented in all of the following areas EXCEPT:

Accepted Answer

A)  self-control.
B)  peer group.
C)  corporate culture.
D)  employee selection and socialization.
E)  the quality control department.F) A) and E)
G) B) and C)

Question 14

Very high expectations from senior management and a desire to share authority by middle managers are two of the positive factors leading to success of TQM.

Accepted Answer

A) True 
 B)False

Question 15

List the four steps in the feedback control model.

Accepted Answer

The four steps are (1)establis...

Question 16

Which of the following includes anticipated and actual expenses for a responsibility center?

Accepted Answer

A)  revenue budget
B)  cash budget
C)  capital budget
D)  expense budget
E)  operating budgetF) All of the above
G) A) and E)

Question 17

The final step of the feedback control model is to do nothing if performance is adequate or to take corrective action if performance is inadequate.

Accepted Answer

A) True 
 B)False

Question 18

Six Sigma is most beneficial when employees have challenging jobs.

Accepted Answer

A) True 
 B)False

Question 19

A standard for performance is included in an organization's overall strategic plan to compare organizational activities against.

Accepted Answer

A) True 
 B)False

Question 20

Sharing financial information and results with all employees in the organization is called ____________________ management.

Accepted Answer

The answer of Sharing financial information and results with all...

Exam 19: Managing Quality and Performance

The final step of the feedback control model is to do nothing if performance is adequate or to take corrective action if performance is inadequate.

Correct Answer
verified

Which of the following refers to funding activities with borrowed money?

Correct Answer
verified

Pauline is an area manager at Ironman Gym.She anticipates her area's needs and formulates a proposed budget every quarter.She then sends this proposal to her manager.This is an example of

Correct Answer
verified

Which of the following is a ratio that measures the firm's internal performance with respect to key activities defined by management?

Correct Answer
verified

Which of the following is a control system that measures performance in terms of after-tax profits minus the cost of capital invested in tangible assets?

Correct Answer
verified

Six Sigma is most beneficial when employees have challenging jobs.

Correct Answer
verified

Correct Answer
verified

The ____ plans future investments in major assets to be depreciated over several years.

Correct Answer
verified

A standard for performance is included in an organization's overall strategic plan to compare organizational activities against.

Correct Answer
verified

Which of these is based on a set of international standards for quality?

Correct Answer
verified

List the four steps in the feedback control model.

Correct Answer
verified
The four steps are (1)establis...
View Answer

____ is a contingency factor that can influence the success of a TQM program in a negative way.

Correct Answer
verified

The ____ offers some indication of the degree to which various countries are open regarding economic matters.

Correct Answer
verified

Decentralized control is usually implemented in all of the following areas EXCEPT:

Correct Answer
verified

Sharing financial information and results with all employees in the organization is called ____________________ management.

Correct Answer
verified

Very high expectations from senior management and a desire to share authority by middle managers are two of the positive factors leading to success of TQM.

Correct Answer
verified

In a traditional ____________________ approach,budgeted amounts for the coming year are imposed on middle- and lower-level managers.

Correct Answer
verified

Describe the difference between a balance sheet and an income statement.

Correct Answer
verified
A balance sheet shows the firm's financi...
View Answer

An organization wide commitment to infusing quality into every activity through continuous improvement is called ____________________.

Correct Answer
verified
total qual...
View Answer

Which of the following includes anticipated and actual expenses for a responsibility center?

Correct Answer
verified

Exam 19: Managing Quality and Performance

The final step of the feedback control model is to do nothing if performance is adequate or to take corrective action if performance is inadequate.

Correct AnswerverifiedShow Answer

Which of the following refers to funding activities with borrowed money?

Correct AnswerverifiedShow Answer

Pauline is an area manager at Ironman Gym.She anticipates her area's needs and formulates a proposed budget every quarter.She then sends this proposal to her manager.This is an example of

Correct AnswerverifiedShow Answer

Which of the following is a ratio that measures the firm's internal performance with respect to key activities defined by management?

Correct AnswerverifiedShow Answer

Which of the following is a control system that measures performance in terms of after-tax profits minus the cost of capital invested in tangible assets?

Correct AnswerverifiedShow Answer

Six Sigma is most beneficial when employees have challenging jobs.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The ____ plans future investments in major assets to be depreciated over several years.

Correct AnswerverifiedShow Answer

A standard for performance is included in an organization's overall strategic plan to compare organizational activities against.

Correct AnswerverifiedShow Answer

Which of these is based on a set of international standards for quality?

Correct AnswerverifiedShow Answer

List the four steps in the feedback control model.

Correct AnswerverifiedThe four steps are (1)establis...View AnswerShow Answer

____ is a contingency factor that can influence the success of a TQM program in a negative way.

Correct AnswerverifiedShow Answer

The ____ offers some indication of the degree to which various countries are open regarding economic matters.

Correct AnswerverifiedShow Answer

Decentralized control is usually implemented in all of the following areas EXCEPT:

Correct AnswerverifiedShow Answer

Sharing financial information and results with all employees in the organization is called ____________________ management.

Correct AnswerverifiedShow Answer

Very high expectations from senior management and a desire to share authority by middle managers are two of the positive factors leading to success of TQM.

Correct AnswerverifiedShow Answer

In a traditional ____________________ approach,budgeted amounts for the coming year are imposed on middle- and lower-level managers.

Correct AnswerverifiedShow Answer

Describe the difference between a balance sheet and an income statement.

Correct AnswerverifiedA balance sheet shows the firm's financi...View AnswerShow Answer

An organization wide commitment to infusing quality into every activity through continuous improvement is called ____________________.

Correct Answerverifiedtotal qual...View AnswerShow Answer

Which of the following includes anticipated and actual expenses for a responsibility center?

Correct AnswerverifiedShow Answer

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verified
The four steps are (1)establis...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
A balance sheet shows the firm's financi...
View Answer

Correct Answer
verified
total qual...
View Answer

Correct Answer
verified