Question 1

The balanced scorecard is a marginally effective strategic performance management system.

Accepted Answer

A) True 
 B)False  False

Question 2

Cody is a manager at Valvco and is creating a measure map with his supervisor. Cody can be confident in telling his boss that if customer satisfaction ratings predict sales, then customer satisfaction is the lagging indicator and sales is the leading indicator.

Accepted Answer

A) True 
 B)False  False

Question 3

Corporate social responsibility focuses not only on the impact of a company's operations on society but also on improving social well-being within and outside of the firm.

Accepted Answer

A) True 
 B)False  True

Question 4

Horizon Engineering and Construction incorporates various CSR initiatives into the designs and construction projects provided for its customers. Which of the following cannot be considered a CSR initiative for the company?

Accepted Answer

A) designing buildings that use recycled materials effectively 
B) designing buildings with high-efficiency heating systems 
C) constructing buildings with cutting-edge technology interfaces in the entry and security systems 
D) constructing buildings with renewable energy generation capabilities, such as solar panels 
A) designing buildings that use recycled materials effectively 
B) designing buildings with high-efficiency heating systems 
C) constructing buildings with cutting-edge technology interfaces in the entry and security systems 
D) constructing buildings with renewable energy generation capabilities, such as solar panels

Question 5

Waterfield Company has three decentralized segments. Executive managers are looking for a way to measure the performance of each segment. Which of the following metrics might be used for this purpose?

Accepted Answer

A) the operating cash flows for the entire company 
B) the return on investment of each segment 
C) the number of training sessions provided to employees in each segment 
D) the material quantity variance in each segment 
A) the operating cash flows for the entire company 
B) the return on investment of each segment 
C) the number of training sessions provided to employees in each segment 
D) the material quantity variance in each segment

Question 6

Match the following descriptions and examples with the four performance perspectives in the balanced scorecard (a-d).
-Focuses on obtaining and retaining customers and customer base
A)Financial
B)Internal processes
C)Learning and growth
D)Customer

Accepted Answer

The answer of Match the following descriptions and examples with...

Question 7

The budgeted income statement and balance sheet are the most important components of a company's strategy map.

Accepted Answer

A) True 
 B)False

Question 8

Match the following descriptions and examples to these elements of the balanced scorecard (a or b).
-Shows the expected relationships among performance metrics
A)Measure maps
B)Strategy maps

Accepted Answer

The answer of Match the following descriptions and examples to...

Question 9

Juana and Carl are reviewing their company's balanced scorecard strategic objectives when they discover a problem. Which of the following is not a correct matching of a strategic objective to its performance perspective in their company's BSC?

Accepted Answer

A) The strategic objective in the learning and growth perspective is to reduce the number of employees who chose to leave the company for jobs elsewhere. 
B) The strategic objective in the customer perspective is to make the customer happy. 
C) The strategic objective in the financial perspective is to reduce shipping errors. 
D) The strategic objective in the internal processes perspective is to improve delivery times of products shipping to customers. 
A) The strategic objective in the learning and growth perspective is to reduce the number of employees who chose to leave the company for jobs elsewhere. 
B) The strategic objective in the customer perspective is to make the customer happy. 
C) The strategic objective in the financial perspective is to reduce shipping errors. 
D) The strategic objective in the internal processes perspective is to improve delivery times of products shipping to customers.

Question 10

It is important to gather as many accounting metrics as possible because they have intrinsic value and do not need a context in which to be understood.

Accepted Answer

A) True 
 B)False

Question 11

In general, corporate social responsibility activities and reporting efforts within the Fortune 500 group of companies have _____ since 2011.

Accepted Answer

A) decreased 
B) remained consistent 
C) increased 
D) been ignored completely 
A) decreased 
B) remained consistent 
C) increased 
D) been ignored completely

Question 12

Match the following descriptions and examples with the elements of the balanced scorecard (a-d).
-Defines the purpose of an action taken within a company
A)Performance metrics
B)Strategic objectives
C)Performance targets
D)Strategic initiatives

Accepted Answer

The answer of Match the following descriptions and examples with...

Question 13

Match the following descriptions and examples with the four performance perspectives in the balanced scorecard (a-d).
-Focuses on traditional accounting measures of performance, such as net income and cash flow
A)Financial
B)Internal processes
C)Learning and growth
D)Customer

Accepted Answer

The answer of Match the following descriptions and examples with...

Question 14

The tendency for managers to behave like the performance metrics are the strategic objectives is known as

Accepted Answer

A) metrics errors 
B) motivated reasoning 
C) surrogation 
D) common measures bias 
A) metrics errors 
B) motivated reasoning 
C) surrogation 
D) common measures bias

Question 15

Provide a succinct definition of corporate social responsibility.

Accepted Answer

Corporate social responsibility is a phr

Question 16

Which of the following statements regarding CSR and sustainability reporting is false?

Accepted Answer

A) Generally accepted accounting principles require firms to report CSR and sustainability efforts. 
B) The Global Reporting Initiative is an international organization that develops the use of sustainability reporting standards. 
C) Many corporations use a triple bottom line approach to sustainability reporting. 
D) The triple bottom line approach includes financial, social, and environmental performance components. 
A) Generally accepted accounting principles require firms to report CSR and sustainability efforts. 
B) The Global Reporting Initiative is an international organization that develops the use of sustainability reporting standards. 
C) Many corporations use a triple bottom line approach to sustainability reporting. 
D) The triple bottom line approach includes financial, social, and environmental performance components.

Question 17

The tendency for managers to see what they want to see in data is known as

Accepted Answer

A) motivated reasoning 
B) surrogation 
C) common measures bias 
D) data subrogation 
A) motivated reasoning 
B) surrogation 
C) common measures bias 
D) data subrogation

Question 18

Which of the following statements regarding strategic objectives in the balanced scorecard is false?

Accepted Answer

A) Strategic objectives define the purpose of an action taken within a company. 
B) Strategic objectives are the same as the overall mission statement of the company. 
C) Each strategic objective is a subcomponent of the company's mission statement. 
D) Each of the four performance perspectives in the balanced scorecard should be linked to at least one strategic objective. 
A) Strategic objectives define the purpose of an action taken within a company. 
B) Strategic objectives are the same as the overall mission statement of the company. 
C) Each strategic objective is a subcomponent of the company's mission statement. 
D) Each of the four performance perspectives in the balanced scorecard should be linked to at least one strategic objective.

Question 19

Which of the following statements about CSR efforts and initiatives is true?

Accepted Answer

A) CSR efforts must be focused locally to be considered a CSR initiative. 
B) CSR efforts must be focused globally to be considered a CSR initiative. 
C) CSR efforts must be focused on employees and their working conditions to be considered a CSR initiative. 
D) CSR efforts must be focused on responsibly impacting society and/or the improvement of the social well-being within and outside the firm to be considered a CSR initiative. 
A) CSR efforts must be focused locally to be considered a CSR initiative. 
B) CSR efforts must be focused globally to be considered a CSR initiative. 
C) CSR efforts must be focused on employees and their working conditions to be considered a CSR initiative. 
D) CSR efforts must be focused on responsibly impacting society and/or the improvement of the social well-being within and outside the firm to be considered a CSR initiative.

Question 20

Ben-Hal Mining, a coal mining company, invests significant funds in land, soil, and water reclamation and conservation projects in every community impacted by its operations. This is an example of a corporate social responsibility objective requiring an extensive capital investment by Ben-Hal Mining.

Accepted Answer

A) True 
 B)False

Exam 28: The Balanced Scorecard and Corporate Social Responsibility

The balanced scorecard is a marginally effective strategic performance management system.

Cody is a manager at Valvco and is creating a measure map with his supervisor. Cody can be confident in telling his boss that if customer satisfaction ratings predict sales, then customer satisfaction is the lagging indicator and sales is the leading indicator.

Corporate social responsibility focuses not only on the impact of a company's operations on society but also on improving social well-being within and outside of the firm.

Horizon Engineering and Construction incorporates various CSR initiatives into the designs and construction projects provided for its customers. Which of the following cannot be considered a CSR initiative for the company?

Waterfield Company has three decentralized segments. Executive managers are looking for a way to measure the performance of each segment. Which of the following metrics might be used for this purpose?

Match the following descriptions and examples with the four performance perspectives in the balanced scorecard (a-d). -Focuses on obtaining and retaining customers and customer base A)Financial B)Internal processes C)Learning and growth D)Customer

The budgeted income statement and balance sheet are the most important components of a company's strategy map.

Match the following descriptions and examples to these elements of the balanced scorecard (a or b). -Shows the expected relationships among performance metrics A)Measure maps B)Strategy maps

Juana and Carl are reviewing their company's balanced scorecard strategic objectives when they discover a problem. Which of the following is not a correct matching of a strategic objective to its performance perspective in their company's BSC?

It is important to gather as many accounting metrics as possible because they have intrinsic value and do not need a context in which to be understood.

In general, corporate social responsibility activities and reporting efforts within the Fortune 500 group of companies have _____ since 2011.

Match the following descriptions and examples with the elements of the balanced scorecard (a-d). -Defines the purpose of an action taken within a company A)Performance metrics B)Strategic objectives C)Performance targets D)Strategic initiatives

Match the following descriptions and examples with the four performance perspectives in the balanced scorecard (a-d). -Focuses on traditional accounting measures of performance, such as net income and cash flow A)Financial B)Internal processes C)Learning and growth D)Customer

The tendency for managers to behave like the performance metrics are the strategic objectives is known as

Provide a succinct definition of corporate social responsibility.

Which of the following statements regarding CSR and sustainability reporting is false?

The tendency for managers to see what they want to see in data is known as

Which of the following statements regarding strategic objectives in the balanced scorecard is false?

Which of the following statements about CSR efforts and initiatives is true?

Introduction to Accounting and Business

Analyzing Transactions

The Adjusting Process

The Accounting Cycle

Accounting for Retail Businesses

Inventories

Internal Control and Cash

Receivables

Long-Term Assets: Fixed and Intangible

Liabilities: Current, Installment Notes, and Contingencies

Liabilities: Bonds Payable

Corporations: Organization, Stock Transactions, and Dividends

Statement of Cash Flows

Financial Statement Analysis

Introduction to Managerial Accounting

Job Order Costing

Process Cost Systems

Activity-Based Costing

Support Department and Joint Cost Allocation

Cost-Volume-Profit Analysis

Variable Costing for Management Analysis

Budgeting

Evaluating Variances From Standard Costs

Evaluating Decentralized Operations

Differential Analysis and Product Pricing

Capital Investment Analysis

Lean Manufacturing and Activity Analysis

Investments

Filters