Question 1

Balanced scorecard projects can motivate I Employee effort
II Achievement of organisational strategies
III Managers to ignore biases and uncertainties

Accepted Answer

A)  I and III only 
B)  II and III only 
C)  I and II only 
D)  I, II, and III 
A)  I and III only 
B)  II and III only 
C)  I and II only 
D)  I, II, and III

Question 2

The measures in a balanced scorecard are guided by

Accepted Answer

A)  Vision and strategy 
B)  Budget plans 
C)  Shareholders 
D)  The board of directors 
A)  Vision and strategy 
B)  Budget plans 
C)  Shareholders 
D)  The board of directors

Question 3

Learning and growth measures, if incorporated in a balanced scorecard, cannot focus on employees.

Accepted Answer

A) True 
 B)False

Question 4

The steps for implementing a balanced scorecard

Accepted Answer

A)  Are different in for-profit and not-for-profit organisations. 
B)  Should be customised for individual organisations. 
C)  Should not vary if the implementation is to be effective. 
D)  Begin with developing measures in each perspective. 
A)  Are different in for-profit and not-for-profit organisations. 
B)  Should be customised for individual organisations. 
C)  Should not vary if the implementation is to be effective. 
D)  Begin with developing measures in each perspective.

Question 5

FPM's strategic plan includes the following statement: "We deliver high-quality and timely service to our internal and external customers." That statement is best described as a(n)

Accepted Answer

A)  Mission statement 
B)  Specific performance objective 
C)  Operating plan 
D)  Strategy 
A)  Mission statement 
B)  Specific performance objective 
C)  Operating plan 
D)  Strategy

Question 6

Which of the following measures would be least likely to be included in a balanced scorecard's internal business process perspective?

Accepted Answer

A)  Percent change in throughput time 
B)  Customer satisfaction rating 
C)  Percent capacity utilisation 
D)  Average waiting time per customer 
A)  Percent change in throughput time 
B)  Customer satisfaction rating 
C)  Percent capacity utilisation 
D)  Average waiting time per customer

Question 7

National Bank of Victoria (NBOV) is the fourth largest commercial bank in Australia. NBOV assets total $46.1 billion, loans of $26 billion, and total deposits of $35.5 billion. It provides online, telephone, and traditional banking and investment services to both individuals and businesses in Australia. NBOV's mission is to create an exceptional customer experience internationally by providing solutions through leading technologies, offering a wide selection of financial products and services, and leveraging experience to meet customers' needs. All of the following measures could be included in a balanced scorecard for NBOV. Which is the most subjective?

Accepted Answer

A)  Revenue growth 
B)  Employee turnover 
C)  Leadership competence 
D)  Quality improvement costs incurred 
A)  Revenue growth 
B)  Employee turnover 
C)  Leadership competence 
D)  Quality improvement costs incurred

Question 8

The first step in implementing a balanced scorecard is developing measures for each of the perspectives.

Accepted Answer

A) True 
 B)False

Question 9

The nature of an organisation's strategies influences the types of performance objectives managers establish.

Accepted Answer

A) True 
 B)False

Question 10

The internal business process perspective in a balanced scorecard is often broken down into its value chain components. Those components include all of the following except the

Accepted Answer

A)  Innovation cycle 
B)  Operations cycle 
C)  Post-sales service cycle 
D)  Budget cycle 
A)  Innovation cycle 
B)  Operations cycle 
C)  Post-sales service cycle 
D)  Budget cycle

Question 11

The first step in implementing a balanced scorecard is to clarify organisational vision, core competencies, and strategies. The strategies

Accepted Answer

A)  Are the core competencies of the organisation 
B)  Are most effectively developed in a decentralised organisation 
C)  Provide guidance for achieving the vision 
D)  Should explicitly incorporate all core competencies 
A)  Are the core competencies of the organisation 
B)  Are most effectively developed in a decentralised organisation 
C)  Provide guidance for achieving the vision 
D)  Should explicitly incorporate all core competencies

Question 12

Which of the following measures would be least likely to be included in a balanced scorecard's learning and growth perspective?

Accepted Answer

A)  Number of patent applications for new products 
B)  Average training cost per employee 
C)  Percent of revenue from new products 
D)  Rank in customer surveys 
A)  Number of patent applications for new products 
B)  Average training cost per employee 
C)  Percent of revenue from new products 
D)  Rank in customer surveys

Question 13

In implementing a balanced scorecard, managers should establish performance targets after analysing the first set of scorecard data.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following measures would be most likely to be found in the financial perspective of the balanced scorecard?

Accepted Answer

A)  Change in market share 
B)  Training days per employee 
C)  Residual income 
D)  Percent capacity utilisation 
A)  Change in market share 
B)  Training days per employee 
C)  Residual income 
D)  Percent capacity utilisation

Question 15

Weaknesses of the balanced scorecard include all of the following except

Accepted Answer

A)  Expensive and time-consuming implementation 
B)  Inability to clarify vision and strategies 
C)  Lack of employee support 
D)  Doubt about links among the perspectives 
A)  Expensive and time-consuming implementation 
B)  Inability to clarify vision and strategies 
C)  Lack of employee support 
D)  Doubt about links among the perspectives

Question 16

The perspectives in a balanced scorecard

Accepted Answer

A)  Can be adapted to an individual organisation's priorities 
B)  Cannot be changed because of copyright restrictions 
C)  Include qualitative and quantitative 
D)  Are externally focused only in for-profit organisations 
A)  Can be adapted to an individual organisation's priorities 
B)  Cannot be changed because of copyright restrictions 
C)  Include qualitative and quantitative 
D)  Are externally focused only in for-profit organisations

Question 17

A representation that provides a visual view of an organisation's strategy with a single-page view of how objectives in the four balanced scorecard perspectives integrate and combine to guide strategy is known as a:

Accepted Answer

A)  Core compentencies 
B)  Strategy map 
C)  Mission statement 
D)  Value chain 
A)  Core compentencies 
B)  Strategy map 
C)  Mission statement 
D)  Value chain

Question 18

The internal business process perspective in a balanced scorecard concentrates principally on employees.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following measures would be most likely to be found in the learning and growth perspective of the balanced scorecard?

Accepted Answer

A)  Change in market share 
B)  Training days per employee 
C)  Residual income 
D)  Percent capacity utilisation 
A)  Change in market share 
B)  Training days per employee 
C)  Residual income 
D)  Percent capacity utilisation

Question 20

How is organisational learning related to the balanced scorecard?

Accepted Answer

A)  Organisational learning is only important in the learning and growth perspective 
B)  Only learning organisations can be successful in scorecard implementation 
C)  The balanced scorecard can improve organisational learning 
D)  Both are important, but they are unrelated 
A)  Organisational learning is only important in the learning and growth perspective 
B)  Only learning organisations can be successful in scorecard implementation 
C)  The balanced scorecard can improve organisational learning 
D)  Both are important, but they are unrelated

Balanced scorecard projects can motivate I Employee effort II Achievement of organisational strategies III Managers to ignore biases and uncertainties

The measures in a balanced scorecard are guided by

Learning and growth measures, if incorporated in a balanced scorecard, cannot focus on employees.

The steps for implementing a balanced scorecard

FPM's strategic plan includes the following statement: "We deliver high-quality and timely service to our internal and external customers." That statement is best described as a(n)

Which of the following measures would be least likely to be included in a balanced scorecard's internal business process perspective?

The first step in implementing a balanced scorecard is developing measures for each of the perspectives.

The nature of an organisation's strategies influences the types of performance objectives managers establish.

The internal business process perspective in a balanced scorecard is often broken down into its value chain components. Those components include all of the following except the

The first step in implementing a balanced scorecard is to clarify organisational vision, core competencies, and strategies. The strategies

Which of the following measures would be least likely to be included in a balanced scorecard's learning and growth perspective?

In implementing a balanced scorecard, managers should establish performance targets after analysing the first set of scorecard data.

Which of the following measures would be most likely to be found in the financial perspective of the balanced scorecard?

Weaknesses of the balanced scorecard include all of the following except

The perspectives in a balanced scorecard

A representation that provides a visual view of an organisation's strategy with a single-page view of how objectives in the four balanced scorecard perspectives integrate and combine to guide strategy is known as a:

The internal business process perspective in a balanced scorecard concentrates principally on employees.

Which of the following measures would be most likely to be found in the learning and growth perspective of the balanced scorecard?

How is organisational learning related to the balanced scorecard?

The Role of Accounting Information in Management Decision Making

Cost Concepts, Behaviour and Estimation

A Costing Framework and Cost Allocation

Cost-Volume-Profit Cvp Analysis

Job Costing Systems

Process Costing Systems

Absorption, Variable and Throughput Costing

Activity Analysis: Costing and Management

Relevant Costs for Decision Making

Standard Costs, Flexible Budgets and Variance Analysis

Operational Budgets

Strategy and Control

Planning and Budgeting for Strategic Success

Capital Budgeting and Strategic Investment Decisions

The Strategic Management of Costs and Revenues

Strategic Management Control: a Lean Perspective

Responsibility Accounting, Performance Evaluation and Transfer Pricing

Rewards, Incentives and Risk Management

Sustainability Management Accounting

Filters

Exam 18: The Balanced Scorecard and Strategy Maps

Balanced scorecard projects can motivate I Employee effort II Achievement of organisational strategies III Managers to ignore biases and uncertainties

The measures in a balanced scorecard are guided by

Learning and growth measures, if incorporated in a balanced scorecard, cannot focus on employees.

The steps for implementing a balanced scorecard

FPM's strategic plan includes the following statement: "We deliver high-quality and timely service to our internal and external customers." That statement is best described as a(n)

Which of the following measures would be least likely to be included in a balanced scorecard's internal business process perspective?

The first step in implementing a balanced scorecard is developing measures for each of the perspectives.

The nature of an organisation's strategies influences the types of performance objectives managers establish.

The internal business process perspective in a balanced scorecard is often broken down into its value chain components. Those components include all of the following except the

The first step in implementing a balanced scorecard is to clarify organisational vision, core competencies, and strategies. The strategies

Which of the following measures would be least likely to be included in a balanced scorecard's learning and growth perspective?

In implementing a balanced scorecard, managers should establish performance targets after analysing the first set of scorecard data.

Which of the following measures would be most likely to be found in the financial perspective of the balanced scorecard?

Weaknesses of the balanced scorecard include all of the following except

The perspectives in a balanced scorecard

A representation that provides a visual view of an organisation's strategy with a single-page view of how objectives in the four balanced scorecard perspectives integrate and combine to guide strategy is known as a:

The internal business process perspective in a balanced scorecard concentrates principally on employees.

Which of the following measures would be most likely to be found in the learning and growth perspective of the balanced scorecard?

How is organisational learning related to the balanced scorecard?

The Role of Accounting Information in Management Decision Making

Cost Concepts, Behaviour and Estimation

A Costing Framework and Cost Allocation

Cost-Volume-Profit Cvp Analysis

Job Costing Systems

Process Costing Systems

Absorption, Variable and Throughput Costing

Activity Analysis: Costing and Management

Relevant Costs for Decision Making

Standard Costs, Flexible Budgets and Variance Analysis

Operational Budgets

Strategy and Control

Planning and Budgeting for Strategic Success

Capital Budgeting and Strategic Investment Decisions

The Strategic Management of Costs and Revenues

Strategic Management Control: a Lean Perspective

Responsibility Accounting, Performance Evaluation and Transfer Pricing

Rewards, Incentives and Risk Management

Sustainability Management Accounting

Filters