Question 1

The balance sheet is a financial statement that reflects a period or duration of time.

Accepted Answer

A) True 
 B)False

Question 2

Controls can create general support as well as general hostility.

Accepted Answer

A) True 
 B)False

Question 3

A highly disciplined process that helps companies focus on developing and delivering near-perfect products and services is:

Accepted Answer

A) quality control. 
B) quality assurance. 
C) quality circles. 
D) Six Sigma. 
A) quality control. 
B) quality assurance. 
C) quality circles. 
D) Six Sigma.

Question 4

The objectives that eventually become the foundation for controls are determined during the ____________ function.

Accepted Answer

A) planning 
B) organizing 
C) staffing 
D) leading 
A) planning 
B) organizing 
C) staffing 
D) leading

Question 5

Timeliness is critical to the effectiveness of controls.

Accepted Answer

A) True 
 B)False

Question 6

An organizational unit that contributes costs,revenues,profits,or investments is called a financial responsibility center.

Accepted Answer

A) True 
 B)False

Question 7

Match the options below with the correct phrase:
-sources and uses of fund statements

Accepted Answer

A) a relationship of two numbers 
B) income - expenses = profit or loss 
C) a budget that always must be justified from "square one" 
D) a formal investigation conducted to determine if financial documents are correct and consistent with the organization's policies, rules, and procedures 
E) treats employees as assets
F)details how each financial responsibility center will manage its cash
G)provides estimates of revenues and expenses for a given period of time
H)assets = liabilities + stockholders' equity
I)each financial responsibility center's financial plan
J)an organizational unit that contributes costs, revenues, profits, or investments
K)involves selecting two critical figures from a financial statement and expressing their relationship as a ratio or percentage
L)a feedforward control technique that
M)a person responsible for planning and overseeing managment of all risks
N)a disciplined process that focuses on developing near-perfect products
O)cash flow statement
P)designed to measure and monitor specific aspects of an organization
Q)an inventory control system that matches purchasing with need 
A) a relationship of two numbers 
B) income - expenses = profit or loss 
C) a budget that always must be justified from "square one" 
D) a formal investigation conducted to determine if financial documents are correct and consistent with the organization's policies, rules, and procedures 
E) treats employees as assets
F)details how each financial responsibility center will manage its cash
G)provides estimates of revenues and expenses for a given period of time
H)assets = liabilities + stockholders' equity
I)each financial responsibility center's financial plan
J)an organizational unit that contributes costs, revenues, profits, or investments
K)involves selecting two critical figures from a financial statement and expressing their relationship as a ratio or percentage
L)a feedforward control technique that
M)a person responsible for planning and overseeing managment of all risks
N)a disciplined process that focuses on developing near-perfect products
O)cash flow statement
P)designed to measure and monitor specific aspects of an organization
Q)an inventory control system that matches purchasing with need

Question 8

Common sense dictates that as plans and goals are developed,____________.

Accepted Answer

A) each is assured of success 
B) each should be viewed as independent elements 
C) there must be controls established 
D) the next step is staffing the organization 
A) each is assured of success 
B) each should be viewed as independent elements 
C) there must be controls established 
D) the next step is staffing the organization

Question 9

Often in organization we use a ____________ as a measure of quality or quantity to monitor people.

Accepted Answer

A) standard 
B) skill level 
C) employee policy 
D) employee productivity measure 
A) standard 
B) skill level 
C) employee policy 
D) employee productivity measure

Question 10

Controls can generate:

Accepted Answer

A) antagonism. 
B) creativity. 
C) support. 
D) none of the answers are correct. 
A) antagonism. 
B) creativity. 
C) support. 
D) none of the answers are correct.

Question 11

McAfee and Norton Anti-Virus computer software are examples of ____________ controls.

Accepted Answer

A) quality 
B) computer 
C) feedbackward 
D) feedforward 
A) quality 
B) computer 
C) feedbackward 
D) feedforward

Question 12

Once established and in place,standards must be ____________.

Accepted Answer

A) blended with established plans 
B) left alone 
C) continually reevaluated 
D) continually rewritten 
A) blended with established plans 
B) left alone 
C) continually reevaluated 
D) continually rewritten

Question 13

A production department in a factory is an example of a ____________ center.

Accepted Answer

A) standard cost 
B) profit 
C) investment 
D) revenue 
A) standard cost 
B) profit 
C) investment 
D) revenue

Question 14

Some corrective actions call for exceptions to prescribed modes of behavior.

Accepted Answer

A) True 
 B)False

The balance sheet is a financial statement that reflects a period or duration of time.

Controls can create general support as well as general hostility.

A highly disciplined process that helps companies focus on developing and delivering near-perfect products and services is:

The objectives that eventually become the foundation for controls are determined during the ____________ function.

Timeliness is critical to the effectiveness of controls.

An organizational unit that contributes costs,revenues,profits,or investments is called a financial responsibility center.

Match the options below with the correct phrase: -sources and uses of fund statements

Common sense dictates that as plans and goals are developed,____________.

Often in organization we use a ____________ as a measure of quality or quantity to monitor people.

Controls can generate:

McAfee and Norton Anti-Virus computer software are examples of ____________ controls.

Once established and in place,standards must be ____________.

A production department in a factory is an example of a ____________ center.

Some corrective actions call for exceptions to prescribed modes of behavior.

Management: An Overview

Management Thought: Past and Present

The Managers Environment

Planning and Strategy

Managements Commitments to Quality and Productivity

Making Decisions

Organizing Principles

Organizational Design, Culture, and Change

Management Ethics and Social Responsibility

Staffing the Workforce

Communication: Interpersonal and Organizational

Human Motivation

Leadership

Team Management and Conflict

Information Management Systems

Filters

Exam 16: Control: Purpose, Process, and Techniques

The balance sheet is a financial statement that reflects a period or duration of time.

Controls can create general support as well as general hostility.

A highly disciplined process that helps companies focus on developing and delivering near-perfect products and services is:

The objectives that eventually become the foundation for controls are determined during the ____________ function.

Timeliness is critical to the effectiveness of controls.

An organizational unit that contributes costs,revenues,profits,or investments is called a financial responsibility center.

Match the options below with the correct phrase: -sources and uses of fund statements

Common sense dictates that as plans and goals are developed,____________.

Often in organization we use a ____________ as a measure of quality or quantity to monitor people.

Controls can generate:

McAfee and Norton Anti-Virus computer software are examples of ____________ controls.

Once established and in place,standards must be ____________.

A production department in a factory is an example of a ____________ center.

Some corrective actions call for exceptions to prescribed modes of behavior.

Management: An Overview

Management Thought: Past and Present

The Managers Environment

Planning and Strategy

Managements Commitments to Quality and Productivity

Making Decisions

Organizing Principles

Organizational Design, Culture, and Change

Management Ethics and Social Responsibility

Staffing the Workforce

Communication: Interpersonal and Organizational

Human Motivation

Leadership

Team Management and Conflict

Information Management Systems

Filters