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Management - Chapter 19 Flashcards | StudBud
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Management - Chapter 19
Management - Chapter 19
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1
An advantage of the bottom-up budgeting process is:
top managers control the information flow.
lower managers are more involved.
its emphasis on bureaucratic control.
top managers are often not committed to achieving budget targets.
2
For control, this type of measure is an important part of achieving higher performance.
Statistical
Emotional
Employee conflict
Theoritical
3
The firm's financial position with respect to assets and liabilities at a specific point in time is shown by its:
liquidity ratio.
balance sheet.
profitability ratio.
income statement.
4
All of the following are key steps of setting up feedback control systems EXCEPT:
establishing standards.
comparing performance to standards.
getting employee opinions.
measuring performance.
5
_____ refers to the steps taken to complete a company process.
Quality circles
Six sigma
Continuous improvement
Cycle time
6
_____ is(are) most beneficial when employees have challenging jobs.
Quality circles
Six Sigma
Kaizen
Total Quality Management
7
The _____ plans future investments in major assets to be depreciated over several years.
cash budget
capital budget
revenue budget
balance sheet budget
8
What is the key to successful benchmarking?
Implementation
Application
Strategy
Analysis
9
Which of the following is the process of measuring your organizational process against the best in the industry?
Environmental analysis
Benchmarking
Outsourcing
Continuous improvement
10
The _____ is purchase orders divided by customer inquiries.
conversion ratio
current ratio
inventory turnover ratio
profit margin on sales
11
Which of the following refers to funding activities with borrowed money?
Liquidity
Leverage
Profitability
ROA
12
The _____ ratio refers to the ability of the organization to meet its current debt obligation.
conversion
activity
profitability
liquidity
13
_____ control is the process of setting targets for an organizations expenditures.
Budgetary
Income
Systems
Quality
14
Decentralized control is usually implemented in all of the following areas EXCEPT:
corporate culture.
employee selection and socialization.
peer group.
the quality control department.
15
Quality circles are based on the assumption(s) that:
quality can be increased by talking more about it.
the people who do the job know it better than anyone else.
the more employees talk, the more satisfied they will be.
quality can be increased by increasing the size of the organization.
16
The conversion ratio is considered to be a(n) _____ ratio.
leverage
activity
profitability
liquidity
17
Net income divided by sales is the correct formula for calculating:
profit margin on sales.
a liquidity ratio.
return on total assets.
a current ratio.
18
_____ provide the basic information used for financial control of an organization.
Owners equity
Financial position
Mission Statements
Income statements
19
To reduce the organization's cycle time is to reduce the number of:
of committees in the organization.
staff employees in the organization.
layers of management.
steps in an organizational process.
20
Which of the following includes anticipated and actual expenses for a responsibility center?
Cash budget
Capital budget
Expense budget
Revenue budget
21
Which of the following allows employees to see for themselves the financial condition of the company?
An economic value-added system
Activity-based costing
An inappropriate control system
Open-book management
22
Which of the following is considered a leverage ratio?
Profit margin on sales
Debt ratio
Return on total assets
Conversion ratio
23
Which of the following is the systematic process through which managers regulate organizational activities?
Strategic planning
Organizational goal setting
Strategic regulation
Organizational control
24
According to the control model, after establishing standards of performance the manager should:
take corrective action.
get the standards approved by the supervisors and subordinates.
measure actual performance.
compare performance to standards.
25
The goal of _____ is to get every employee thinking and acting like a business owner.
management-by-walking around
open-book management
closed-book management
MBO
26
In today’s tough economy, companies are predominantly looking for employees with what types of skills?
Technical skills
A diverse set of skills
Conceptual skills
Researching skills
27
Which of these is based on a set of international standards for quality?
Quality circle
ISO certification
Corporate governance
Open-book management
28
All of the following are major perspectives of the Balanced Scorecard EXCEPT _____.
competitors
learning and growth
customers
financial
29
_____ indicators focus on production and operating statistics.
Potential for learning and growth
Business process
Critical success
Financial performance
30
_____ standards represent an international standard for quality management.
Six Sigma
Kiazan
TQM
ISO 9000
31
What is the first step in the feedback control system?
Taking corrective action
Comparing performance to standard
Establishing strategic objectives
Establishing standards of performance
