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Management
Q:
Match the following numbered items with the most correct response letter.A response may be used once, more than once, or not at all.a. Financial budgetb. Operations budgetc. Nonmonetary budgetBalance sheet budget
Q:
Match the following numbered items with the most correct response letter.A response may be used once, more than once, or not at all.a. Preliminary controlb. Screening controlc. Postaction controlRandomly testing phones as they are assembled
Q:
Match the following numbered items with the most correct response letter.A response may be used once, more than once, or not at all.a. Preliminary controlb. Screening controlc. Postaction controlCourse prerequisites
Q:
Match the following numbered items with the most correct response letter.A response may be used once, more than once, or not at all.a. Preliminary controlb. Screening controlc. Postaction controlHiring only college graduates for entry level positions
Q:
Match the following numbered items with the most correct response letter.A response may be used once, more than once, or not at all.a. Preliminary controlb. Screening controlc. Postaction controlAn editor who works on a manuscript only when it is complete
Q:
Match the following numbered items with the most correct response letter.A response may be used once, more than once, or not at all.a. Preliminary controlb. Screening controlc. Postaction controlA journalist who edits her articles while she is working on them
Q:
Match the following numbered items with the most correct response letter.A response may be used once, more than once, or not at all.a. Preliminary controlb. Screening controlc. Postaction controlPhysical therapy following surgery
Q:
Match the following numbered items with the most correct response letter.A response may be used once, more than once, or not at all.a. Preliminary controlb. Screening controlc. Postaction controlNews editors assigning reporters to stories
Q:
Compare the bureaucratic and decentralized models of organizational control.
Q:
Describe the three broad classes of budgets.
Q:
What is postaction control?
Q:
An organization that instructs its employees when to come to work, where to park, and when to have morning coffee is guilty of _____.
Q:
A control system that provides information as often as is necessary is said to possess _____.
Q:
Southwest Airlines encourages attendants to make up a pre-flight routine that is humorous, personalized, and non-routine. Thisapproach suggests that Southwest uses a(n) _____ structural control system.
Q:
A(n) _____ is an independent appraisal of an organization's accounting, financial, and operational systems.
Q:
A(n) _____ lists the assets and liabilities of an organization at a specific point in time.
Q:
A(n) _____ budget shows costs of major assets such as a new plant, machinery, or land.
Q:
A(n) _____ is a plan expressed in numerical terms
Q:
Preliminary control is one type of _____ control.
Q:
Managers at a technology start-up hire an agency to perform an environmental analysis for their firm. This is an example of control of _____ resources.
Q:
_____ is the regulation of organizational activities so that some targeted elements of performance remains within acceptable limits.
Q:
An employee at a mid-size organization argues that she has made more sales in a particular quarter than another employee. Which of the following features will the organization's control system possess in order to confirm this claim?
a. Participation
b. Flexibility
c. Appropriate focus
d. High standards
e. Verification procedures
Q:
Alexander, a professor at a state university, polls his students to decide on a new examination format. He is using _____ to reduce resistance to change.
a. participation
b. planning
c. appropriate focus
d. high standards
e. verification procedures
Q:
Employees at an accounting agency are prohibited from using social networking websites while at work. Their personal e-mails are also closely monitored for reasons of confidentiality. The control system at this organization suffers from:
a. overcontrol.
b. lack of standards.
c. undercontrol.
d. inappropriate focus.
e. lack of accountability.
Q:
An organizational control system that enforces unique employee dress codes for different days of the week is guilty of:
a. overcontrol.
b. inappropriate focus.
c. rewarding inefficiency.
d. too much accountability.
e. inaccuracy.
Q:
Which if the following control systems is most likely to be highly effective?
a. A control system that provides information as often as is necessary.
b. A control system that is rigid.
c. A control system that is loosely linked with planning.
d. A control system that provides subjective information.
e. A control system that focuses only on quantifiable variables.
Q:
Which of the following is a characteristic of effective control?
a. It provides timely information.
b. It is separate from planning.
c. It is rigid.
d. It is subjective.
e. It directly controls employee behavior.
Q:
Managers can improve the effectiveness of the control system by:
a. preventing the development of verification procedures.
b. controlling as many things in the organization as possible.
c. focusing only on quantifiable variables.
d. integrating control with planning.
e. correcting all deviations from standards.
Q:
International firms which use ____ strategic control require each organization unit around the world to frequently report the results of its performance to headquarters.
a. decentralized
b. organic
c. screening
d. centralized
e. postaction
Q:
A multinational construction firm does not require its various divisions to report frequently to the head office. The organization believes in letting each managerhave the authority to respond quickly to environmental changes. These managerial actions do not have to be approved bythe head office before they are implemented. This firm uses _____ strategic control.
a. bureaucratic
b. mechanistic
c. decentralized
d. formalized
e. inflexible
Q:
Organizations make the decision of whether to have a centralized or decentralized international control system when they areaddressing issues of ____ control.
a. screening
b. strategic
c. financial
d. bureaucratic
e. preliminary
Q:
Organizations that use _____ strategic control believe it is effective because it allows the home office to keep better informed of the performance of foreign units.
a. organic
b. centralized
c. mechanistic
d. bureaucratic
e. environmental
Q:
Which of the following types of control focuses on leadership and technology control systems?
a. Bureaucratic
b. Structural
c. Operations
d. Strategic
e. Screening
Q:
At Circlet, a mid-size technology firm, employees are encouraged to participate in various organizational roles and decision-making functions. Top management relies on a strong corporate culture to foster employee commitment to the organization. Circlet uses _____ structural control.
a. bureaucratic
b. strategic
c. decentralized
d. mechanistic
e. operational
Q:
An organization whose goal is employee commitment to the organization most likely uses _____ structural control.
a. bureaucratic
b. decentralized
c. financial
d. mechanistic
e. strategic
Q:
Which of the following is an important element of decentralized control?
a. Group norms
b. Rigid hierarchy
c. Tall organization structure
d. Individual performance
e. Employee compliance
Q:
Decentralized control is characterized by:
a. formal rules
b. an organic structural arrangement.
c. focus on employee compliance.
d. a tall structure.
e. limited employee participation.
Q:
An organization that switches to a different type of functional design is changing its method of _____ control.
a. postaction
b. bureaucratic
c. screening
d. strategic
e. preliminary
Q:
_____ control is an approach to organization design characterized by formal and mechanistic structural arrangements.
a. Decentralized
b. Screening
c. Bureaucratic
d. Financial
e. Preliminary
Q:
An organization that relies on strict rules and a rigid hierarchy and insists that employees meet minimally acceptable levels of performance most likely uses _____ structural control.
a. strategic
b. decentralized
c. bureaucratic
d. organic
e. screening
Q:
Organizations that use the bureaucratic control are characterized by:
a. flat structures.
b. rewards focused on group performance.
c. limited employee participation.
d. heavy reliance on group norms.
e. organic structural arrangements.
Q:
Which of the following is characteristic of the bureaucratic approach to organizational control?
a. Rewards are directed at group performance.
b. Organizational structure is flat.
c. Employee participation is extended and informal.
d. Reliance is on strict rules and a rigid hierarchy.
e. Performance expectations extend above and beyond the minimum.
Q:
The purpose of bureaucratic control is to:
a. support employee participation in the control function.
b. produce performance above minimum acceptable standards.
c. get employee compliance.
d. increase group performance.
e. increase employee self-control.
Q:
An appraisal of an organization's accounting and financial procedures conducted by employees of that organization is known as a(n):
a. internal audit.
b. debt audit.
c. ratio audit.
d. external audit.
e. liquidity audit.
Q:
A manager at a supermarket needs to know how easily the store's assets can be converted into cash. Which of the following ratios will he use?
a. Debt ratio
b. Return ratio
c. Liquidity ratio
d. Coverage ratio
e. Operating ratio
Q:
Which of the following is true of the operating ratio?
a. It reflects ability to meet long-term financial obligations.
b. It shows managers and investors how much return the organization is generating relative to its assets.
c. It indicates how liquid an organization's assets are.
d. It indicates the effectiveness of specific functional areas rather than that of the total organization.
e. It helps estimate the organization's ability to cover interest expenses on borrowed capital.
Q:
Which of the following is true of the debt ratio?
a. It reflects ability to meet long-term financial obligations.
b. It shows managers and investors how much return the organization is generating relative to its assets.
c. It indicates how liquid an organization's assets are.
d. It indicates the effectiveness of specific functional areas.
e. It helps estimate the organization's ability to cover interest expenses on borrowed capital.
Q:
Which of the following statements is true of auditing?
a. External audits tend to be more expensive than internal audits.
b. External audits are handled by employees of the organization.
c. Publicly held corporations are required by law to have internal audits regularly.
d. All organizations are required to have a permanent internal auditing staff.
e. Organizations contract with certified public accountants for external audits.
Q:
Which of the following is true of the liquidity ratio? a. It indicates how easily an organization's assets are converted into cash.
b. It reflects an organization's ability to meet long-term financial obligations.
c. It shows managers and investors how much return an organization is generating relative to its assets.
d. It helps estimate an organization's ability to cover interest expenses on borrowed capital.
e. It indicates the effectiveness of specific functional areas in an organization.
Q:
The financial ratio that reflects the ability to meet long-term financial obligations is the _____ ratio.
a. return
b. operating
c. liquidity
d. debt
e. coverage
Q:
Which of the following statements about financial audits is true?
a. Audits can only be conducted by experts who are not employees of the organization.
b. Financial audits are always internal to an organization.
c. Audits are used to monitor accounting and financial systems within an organization.
d. Organizational operating systems are not audited.
e. Publicly held corporations are required by law to have internal audits regularly.
Q:
Financial analysts look at a company's _____ ratio to determine if it can make interest payments on borrowed capital.
a. coverage
b. operating
c. debt
d. return
e. liquidity
Q:
Which of the following ratios assesses the ease with which an organization's assets can be converted into cash?
a. Liquidity ratio
b. Profitability ratio
c. Debt ratio
d. Operating ratio
e. Coverage ratio
Q:
Which of the following reflects a firm's ability to meet its long-term financial obligations?
a. Debt ratio
b. Balance sheet
c. Return on investment
d. Profit budget
e. Liquidity ratio
Q:
John began his company making herb vinegars from a recipe his grandmother had given him. As demandgrew, he had to buy a large commercial kitchen. Which of the following ratios would a banker be mostinterested in before allowing John to borrow $500,000?
a. Liquidity ratio
b. Balance sheet
c. Return on investment
d. Operating ratio
e. Debt ratio
Q:
Which of the following is the most common means of financial control within organizations?
a. Financial statements
b. Ratio analysis
c. Budgets
d. Financial audits
e. Benchmarking
Q:
Which of the following summarizes the financial performance of an organization over a period of time?
a. Balance sheet
b. Liquidity ratio
c. Cash flow statement
d. Income statement
e. Debt statement
Q:
A(n) _____ compares different elements of a balance sheet or an income statement to one another.
a. expense budget
b. profit budget
c. internal audit
d. operations budget
e. financial ratio
Q:
If an energy company wants to discover the effectiveness of its wind-turbine division in a particular state, it will use a(n):
a. liquidity ratio.
b. balance sheet ratio.
c. return on investment.
d. operating ratio.
e. debt ratio.
Q:
Which of the following financial documents shows a listing of all the organization's assets and liabilities at a given point in time?
a. Balance sheet
b. Expense budget
c. Income statement
d. Revenue budget
e. Capital expenditures budget
Q:
Which of the following is a weakness associated with budgeting?
a. Budgets do not allow managers to identify problem areas.
b. Budgets do not facilitate effective control.
c. Budgets fail to link planning and controlling.
d. Budgets can limit innovation and change.
e. Budgets hamper coordination between departments.
Q:
Which of the following is a nonmonetary budget?
a. Labor budget
b. Capital expenditures budget
c. Sales budget
d. Balance sheet budget
e. Revenue budget
Q:
Which of the following shows income that the organization expects to receive from normal operations?
a. Profit budget
b. Balance sheet budget
c. Cash flow budget
d. Space budget
e. Revenue budget
Q:
A company that specializes in indoor farming has recently acquired a large warehouse. Which of the following budgets will this company use to determine and plan the area available for various functions?
a. Operating budget
b. Space budget
c. Labor budget
d. Revenue budget
e. Expense budget
Q:
A budget that deals with costs of major assets such as a new plant, machinery, or land is known as a _____ budget.
a. revenue
b. balance sheet
c. cash flow
d. expense
e. capital expenditures
Q:
A(n) _____ budget forecasts the organization's assets and liabilities in the event that all other budgets are met.
a. balance sheet
b. revenue
c. fixed asset
d. expense
e. labor
Q:
The _____ budget shows the anticipated differences between sales or revenue and expenses.
a. expense
b. profit
c. labor
d. capital expenditure
e. cash flow
Q:
During the scheduling of a project, a plant manager is told that she has 30 workers for 6 hours a day, 5 days a week. This is part of a(n) _____ budget.
a. capital expenditure
b. master
c. space
d. labor
e. personnel
Q:
A state university develops a budget that shows its projected income from sources that include government funding, tuition fees, alumni contributions, and research grants. This is an example of a(n) _____ budget.
a. operations
b. capital expenditures
c. nonmonetary
d. output
e. revenue
Q:
A publishing firm will use a(n) _____ budget to forecast and plan the demand for young adult books in Southeast Asia in the coming year.
a. labor
b. capital expenditures
c. operating
d. balance sheet
e. space
Q:
Hermes is a taxi service that asks customers to fill out an online feedback form once their ride is complete. Hermes is making use of _____ operations control.
a. preliminary
b. screening
c. structural
d. postaction
e. decentralized
Q:
Which of the following types of control is used for resources such as retained earnings?
a. Financial control
b. Structural control
c. Operating control
d. Interim control
e. Nonmonetary control
Q:
Intertek's product quality inspections help protect brand reputations by minimizing defective merchandise,customer complaints, non-compliant products, and late shipments. This is an example of _____ control.
a. preliminary
b. postaction
c. screening
d. financial
e. structural
Q:
_____ control provides a basis for rewarding employees.
a. Preliminary
b. Strategic
c. Postaction
d. Structural
e. Screening
Q:
Postaction control is applied to _____.
a. resources
b. transformation processes
c. subsystems
d. controllers
e. outputs
Q:
At a high school, final examinations are held online. During the examination, the difficulty level of questions assigned to students is modified based on how well individual students perform. This is an example of _____ operations control.
a. preliminary
b. screening
c. structural
d. postaction
e. decentralized
Q:
_____ control is the form of operations control that tends to be used most often.
a. Human resources
b. Financial
c. Screening
d. Postaction
e. Preliminary
Q:
Before submitting a final policy memo, analysts may modify certain recommendations based on feedback from experts and the general public. This is an example of _____ control.
a. preliminary
b. postaction
c. screening
d. financial
e. structural
Q:
Which of the following is true of screening control?
a. It takes place during the transformation process.
b. It involves interviewing potential employees.
c. It is the same as preliminary control.
d. It is present only in organizations with bureaucratic control.
e. It is a part of structural control.
Q:
_____ controls are an effective way to catch problems early in the transformation process.
a. Postaction
b. Structural
c. Screening
d. Strategic
e. Financial