Question 1

A division manager whispered to his peer as they left the monthly executive meeting, "Our new CEO is going to play hardball. Any of us whose division is performing with significant negative deviation from the established budget is going to get a lot of her concentrated attention." "What do you expect?" countered Randy. "She told us in our meeting that she would be using ________ as part of her control system."

Accepted Answer

A)   the balance sheet
B)   management myopia
C)   our employment relationship
D)   the principle of exception
E)   the balance scorecardF) A) and B)
G) B) and C)

Question 2

________ is the amount accruing to the corporation's owners.

Accepted Answer

A)   Stockholders' equity
B)   Liability
C)   Dividend
D)   Audit
E)   AssetF) D) and E)
G) All of the above

Question 3

________ indicate a company's ability to pay short-term debts.

Accepted Answer

A)   Liabilities
B)   Stockholders' equities
C)   Assets
D)   Liquidity ratios
E)   AuditsF) C) and D)
G) All of the above

Question 4

While plans are being carried out, ________ control is taking place.

Accepted Answer

A)   feedback
B)   specialist
C)   preliminary
D)   feedforward
E)   concurrentF) C) and D)
G) B) and D)

Question 5

The first step in a typical control system is

Accepted Answer

A)   setting performance standards.
B)   comparing performance against the standards.
C)   taking action to correct problems.
D)   revising standards.
E)   measuring performance.F) A) and E)
G) All of the above

Question 6

Using market control mechanisms is criticized for

Accepted Answer

A)   relying too heavily on rules and procedures.
B)   not adequately reflecting organizations' total value.
C)   being too dependent on the organizational culture.
D)   enhancing environmental sustainability.
E)   overly centralizing decision making and power.F) A) and E)
G) A) and C) D

Question 7

________ budget sheet items over time uncovers important trends.

Accepted Answer

A)   Expanding
B)   Summarizing
C)   Enlarging
D)   Condensing
E)   MergingF) None of the above
G) All of the above

Question 8

Describe what is meant by budgetary controls and how they affect the budget.

Accepted Answer

Budgetary control is one of the most wid...

Question 9

Describe at least four of the different types of budgets that are frequently used.

Accepted Answer

Four budgets that are frequently used ar...

Question 10

Effective managers make sure that activities are going as planned with the help of control.

Accepted Answer

A) True 
 B)False

Question 11

TriCounty Health is a regional medical center. They tie pricing of services and profits to specific services in the medical center. TriCounty Health uses a ________ control system.

Accepted Answer

A)   bureaucratic
B)   market
C)   clan
D)   feedforward
E)   concurrentF) B) and D)
G) A) and E)

Question 12

A company enforced a rule that employees were required to submit their cell phones for safekeeping before entering their work bay. Employees followed the rule in order to avoid getting into trouble with the management. As a result, many of them missed important phone calls from their clients/customers. This scenario is an example of

Accepted Answer

A)   market control.
B)   management myopia.
C)   dysfunctional behavior.
D)   rigid bureaucratic behavior.
E)   resistance to control.F) D) and E)
G) None of the above

Question 13

According to Michael Hammer, what are the seven "deadly sins" of performance measure to avoid?

Accepted Answer

Business consultant Michael Hammer has i...

Question 14

A(n)  ________ is a report that shows the financial picture of a company at a given time and itemizes assets, liabilities, and stockholders' equity.

Accepted Answer

A)   profit and loss statement
B)   balance sheet
C)   expense report
D)   income statement
E)   budget reportF) C) and E)
G) C) and D) B

Question 15

________ ratio is the name of the most common liquidity ratio, current assets to current liabilities.

Accepted Answer

A)   Debt-equity
B)   Current
C)   Profit and loss
D)   Return on investment
E)   Stockholders' equityF) A) and B)
G) All of the above

Question 16

Traditionally, boards try to control CEO performance mainly through

Accepted Answer

A)   salary schedules.
B)   bonuses tied to productivity.
C)   balanced scorecards.
D)   incentive pay.
E)   bonuses tied to long-term profit targets.F) B) and E)
G) B) and D) D

Question 17

Market controls use

Accepted Answer

A)   rules and regulations.
B)   economic forces.
C)   authority.
D)   sales and variable costs levels.
E)   norms.F) None of the above
G) C) and D)

Question 18

In ________ control, instead of waiting for results and comparing them with goals, a manager or employees can exert control by limiting activities in advance.

Accepted Answer

A)   feedforward
B)   concurrent
C)   feedback
D)   forward
E)   internalF) C) and E)
G) B) and E)

Question 19

The most effective standards are expressed in ________ terms; they are objective more than subjective.

Accepted Answer

A)   quantitative
B)   qualitative
C)   balanced
D)   adequate
E)   technicalF) D) and E)
G) A) and E)

Question 20

Control and ________ have been called the Siamese twins of management.

Accepted Answer

A)   planning
B)   organizing
C)   leading
D)   directing
E)   empowermentF) A) and C)
G) All of the above

Exam 14: Managerial Control

Correct Answer
verified

________ is the amount accruing to the corporation's owners.

Correct Answer
verified

________ indicate a company's ability to pay short-term debts.

Correct Answer
verified

While plans are being carried out, ________ control is taking place.

Correct Answer
verified

The first step in a typical control system is

Correct Answer
verified

Using market control mechanisms is criticized for

Correct Answer
verified
D

________ budget sheet items over time uncovers important trends.

Correct Answer
verified

Describe what is meant by budgetary controls and how they affect the budget.

Correct Answer
verified
Budgetary control is one of the most wid...
View Answer

Describe at least four of the different types of budgets that are frequently used.

Correct Answer
verified
Four budgets that are frequently used ar...
View Answer

Effective managers make sure that activities are going as planned with the help of control.

Correct Answer
verified

TriCounty Health is a regional medical center. They tie pricing of services and profits to specific services in the medical center. TriCounty Health uses a ________ control system.

Correct Answer
verified

Correct Answer
verified

According to Michael Hammer, what are the seven "deadly sins" of performance measure to avoid?

Correct Answer
verified
Business consultant Michael Hammer has i...
View Answer

A(n) ________ is a report that shows the financial picture of a company at a given time and itemizes assets, liabilities, and stockholders' equity.

Correct Answer
verified
B

________ ratio is the name of the most common liquidity ratio, current assets to current liabilities.

Correct Answer
verified

Traditionally, boards try to control CEO performance mainly through

Correct Answer
verified
D

Market controls use

Correct Answer
verified

In ________ control, instead of waiting for results and comparing them with goals, a manager or employees can exert control by limiting activities in advance.

Correct Answer
verified

The most effective standards are expressed in ________ terms; they are objective more than subjective.

Correct Answer
verified

Control and ________ have been called the Siamese twins of management.

Correct Answer
verified

Exam 14: Managerial Control

Correct AnswerverifiedShow Answer

________ is the amount accruing to the corporation's owners.

Correct AnswerverifiedShow Answer

________ indicate a company's ability to pay short-term debts.

Correct AnswerverifiedShow Answer

While plans are being carried out, ________ control is taking place.

Correct AnswerverifiedShow Answer

The first step in a typical control system is

Correct AnswerverifiedShow Answer

Using market control mechanisms is criticized for

Correct AnswerverifiedD

________ budget sheet items over time uncovers important trends.

Correct AnswerverifiedShow Answer

Describe what is meant by budgetary controls and how they affect the budget.

Correct AnswerverifiedBudgetary control is one of the most wid...View AnswerShow Answer

Describe at least four of the different types of budgets that are frequently used.

Correct AnswerverifiedFour budgets that are frequently used ar...View AnswerShow Answer

Effective managers make sure that activities are going as planned with the help of control.

Correct AnswerverifiedShow Answer

TriCounty Health is a regional medical center. They tie pricing of services and profits to specific services in the medical center. TriCounty Health uses a ________ control system.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

According to Michael Hammer, what are the seven "deadly sins" of performance measure to avoid?

Correct AnswerverifiedBusiness consultant Michael Hammer has i...View AnswerShow Answer

A(n) ________ is a report that shows the financial picture of a company at a given time and itemizes assets, liabilities, and stockholders' equity.

Correct AnswerverifiedB

________ ratio is the name of the most common liquidity ratio, current assets to current liabilities.

Correct AnswerverifiedShow Answer

Traditionally, boards try to control CEO performance mainly through

Correct AnswerverifiedD

Market controls use

Correct AnswerverifiedShow Answer

In ________ control, instead of waiting for results and comparing them with goals, a manager or employees can exert control by limiting activities in advance.

Correct AnswerverifiedShow Answer

The most effective standards are expressed in ________ terms; they are objective more than subjective.

Correct AnswerverifiedShow Answer

Control and ________ have been called the Siamese twins of management.

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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D

Correct Answer
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Correct Answer
verified
Budgetary control is one of the most wid...
View Answer

Correct Answer
verified
Four budgets that are frequently used ar...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Business consultant Michael Hammer has i...
View Answer

Correct Answer
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B

Correct Answer
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Correct Answer
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D

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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