Exam 18: Controlling Activities and Operations

The ________ ratios measure an organization's ability to meet its current debt obligations.

The plant superintendent wants to know the value of products per man hour. She is concerned with ________.

Basic corrective action corrects problems at once to get performance back on track.

Diane wants to take corrective measures to prevent future theft. Which one of the following is a feedback tactic that Diane could use to control theft?

Mark recommends that the managers at Statco should identify how and why performance has deviated beyond the acceptable range of variation, and then correct the source of the deviation. Here, Mark is recommending ________.

Contours, Inc., uses its budget for labor hours as a ________ tool.

"No, James, you must start the timer after you lower the French fry basket into the fryer, not before." This supervisor is using ________.

The service profit chain is the service sequence from employees to customers to profit. According to this concept, the company's strategy and service delivery system determines ________.

Which one of the following is a performance measurement tool that looks at four areas that contribute to a company's performance?

Andrew prefers to get his performance data in the form of charts and graphs. Andrew prefers ________.

Every March, Bill, who owns and operates a small retail shop, takes a large box of receipts and invoices to his accountant so the accountant can file Bill's taxes in April. Only then does Bill know if his business has been profitable. Bill could benefit from a(n) ________.

Which one of the following is an advantage of using statistical reports as the source of information?

Leverage ratios measure an organization's ability to meet its current debt obligations.

________ is the final step in the management process, which provides a critical link back to ________.

Which one of the following refers to the overall output of goods or services produced divided by the inputs needed to generate that output?

Managers should do nothing if the variance observed from the standard is acceptable.

Because so many items had disappeared from the office supplies storeroom, management installed a surveillance camera to provide ________.

What are the major reasons why the control function is important to managers?

The Sarbanes-Oxley Act of 2002 requires senior managers to certify their financial results.

Provide a few examples for feedforward strategies to reduce employee theft.