Question 1

Which of the following would NOT be an objective measure?

Accepted Answer

A)  customer profitability 
B)  employee capabilities 
C)  return on investment 
D)  cost per unit 
A)  customer profitability 
B)  employee capabilities 
C)  return on investment 
D)  cost per unit

Question 2

The formula for computing Manufacturing Cycle Efficiency (MCE) is

Accepted Answer

A)  Processing Time / (Processing time + Move time + Inspection time + Waiting time + Other non-value-added time). 
B)  Theoretical Capacity / Production hours available. 
C)  Cycle time per unit ´ velocity. 
D)  none of these. 
A)  Processing Time / (Processing time + Move time + Inspection time + Waiting time + Other non-value-added time). 
B)  Theoretical Capacity / Production hours available. 
C)  Cycle time per unit ´ velocity. 
D)  none of these.

Question 3

Which of the following would be a nonfinancial measure?

Accepted Answer

A)  customer profitability 
B)  dissatisfied customers 
C)  return on investment 
D)  cost per unit 
A)  customer profitability 
B)  dissatisfied customers 
C)  return on investment 
D)  cost per unit

Question 4

Activity-based responsibility and strategic-based responsibility incorporate some of the same elements.However, strategic-based responsibility adds some new elements to the common dimensions.What are the elements in common and what new elements are included?

Accepted Answer

Activity-based responsibility and strate

Question 5

Which of the following would be a lag measure?

Accepted Answer

A)  budget forecasts 
B)  sales per employee 
C)  plant investment 
D)  employee training hours 
A)  budget forecasts 
B)  sales per employee 
C)  plant investment 
D)  employee training hours

Question 6

At the beginning of 2011, Peters Company installed a JIT purchasing and manufacturing system.The following information has been gathered about one of the company's products:  
- What is the ideal conversion cost per unit?

Accepted Answer

A)  $0.9 per unit. 
B)  $1.75 per unit. 
C)  $25.50 per unit. 
D)  $28 per unit. 
A)  $0.9 per unit. 
B)  $1.75 per unit. 
C)  $25.50 per unit. 
D)  $28 per unit.

Question 7

A testable strategy is defined as

Accepted Answer

A)  a strategy that can be implemented. 
B)  a set of profit goals. 
C)  a set of linked objectives aimed at an overall goal. 
D)  a strategy that is verifiable. 
A)  a strategy that can be implemented. 
B)  a set of profit goals. 
C)  a set of linked objectives aimed at an overall goal. 
D)  a strategy that is verifiable.

Question 8

Lead measures

Accepted Answer

A)  are the measures with the highest priority. 
B)  are generic to different strategies. 
C)  are based on performance drivers. 
D)  represent the desired outcomes. 
A)  are the measures with the highest priority. 
B)  are generic to different strategies. 
C)  are based on performance drivers. 
D)  represent the desired outcomes.

Question 9

The number of units that can be produced in a given period of time is called

Accepted Answer

A)  velocity. 
B)  cycle time. 
C)  turnover. 
D)  efficiency. 
A)  velocity. 
B)  cycle time. 
C)  turnover. 
D)  efficiency.

Question 10

In the Balanced Scorecard system, core objectives and measures

Accepted Answer

A)  are common across all organizations. 
B)  are common across all scorecard perspectives. 
C)  are common across departments. 
D)  none of these. 
A)  are common across all organizations. 
B)  are common across all scorecard perspectives. 
C)  are common across departments. 
D)  none of these.

Question 11

Which type of responsibility accounting addresses directed continuous improvement in environments that consist of competitive conditions and dynamic change?

Accepted Answer

A)  activity-based responsibility accounting 
B)  strategic-based responsibility accounting 
C)  process-based responsibility accounting 
D)  functional-based responsibility accounting 
A)  activity-based responsibility accounting 
B)  strategic-based responsibility accounting 
C)  process-based responsibility accounting 
D)  functional-based responsibility accounting

Question 12

Directed continuous improvement is accomplished by linking initiatives to

Accepted Answer

A)  processes. 
B)  strategy and mission. 
C)  financial outcomes. 
D)  measures. 
A)  processes. 
B)  strategy and mission. 
C)  financial outcomes. 
D)  measures.

Question 13

A competitive environment means that organizations will be

Accepted Answer

A)  producing increasingly high-volume, low-variety products and services. 
B)  focused internally on efficiency. 
C)  viewing their actions independent of competitors, suppliers, and customers. 
D)  managing cause and effect linkages to customer satisfaction. 
A)  producing increasingly high-volume, low-variety products and services. 
B)  focused internally on efficiency. 
C)  viewing their actions independent of competitors, suppliers, and customers. 
D)  managing cause and effect linkages to customer satisfaction.

Question 14

At the beginning of 2011, Smith Company installed a JIT purchasing and manufacturing system.The following information has been gathered about one of the company's products.   
-What is the ideal conversion cost per unit?

Accepted Answer

A)  $14 per unit. 
B)  $15.55 per unit. 
C)  $56 per unit 
D)  $50.90 per unit. 
A)  $14 per unit. 
B)  $15.55 per unit. 
C)  $56 per unit 
D)  $50.90 per unit.

Question 15

_______________ are outcome measures that relate to customers.

Accepted Answer

A)  Objective measures 
B)  External measures 
C)  Financial measures 
D)  Lag measures 
A)  Objective measures 
B)  External measures 
C)  Financial measures 
D)  Lag measures

Question 16

Which of the following would be a subjective measure?

Accepted Answer

A)  employee capabilities 
B)  market share 
C)  return on investment 
D)  cost per unit 
A)  employee capabilities 
B)  market share 
C)  return on investment 
D)  cost per unit

Question 17

Which of the following is NOT a step in developing the Balanced Scorecard?

Accepted Answer

A)  setting balanced objectives 
B)  outlining control procedures 
C)  setting target values 
D)  rewards 
A)  setting balanced objectives 
B)  outlining control procedures 
C)  setting target values 
D)  rewards

Question 18

Why does the Balanced Scorecard differ from company to company? Whose responsibility is the implementation?

Accepted Answer

A company's Balanced Scorecard should be

Question 19

Stretch targets are

Accepted Answer

A)  aimed at stretching the firm's resources. 
B)  aimed at static standards. 
C)  aimed at transforming the organization within three to five years if achieved. 
D)  aimed at transforming the organization immediately. 
A)  aimed at stretching the firm's resources. 
B)  aimed at static standards. 
C)  aimed at transforming the organization within three to five years if achieved. 
D)  aimed at transforming the organization immediately.

Question 20

Strategy translation is concerned with

Accepted Answer

A)  choosing general goals. 
B)  choosing the customer segments. 
C)  identifying measures, targets, and initiatives. 
D)  choosing the nature of the business. 
A)  choosing general goals. 
B)  choosing the customer segments. 
C)  identifying measures, targets, and initiatives. 
D)  choosing the nature of the business.

Which of the following would NOT be an objective measure?

The formula for computing Manufacturing Cycle Efficiency (MCE) is

Which of the following would be a nonfinancial measure?

Activity-based responsibility and strategic-based responsibility incorporate some of the same elements.However, strategic-based responsibility adds some new elements to the common dimensions.What are the elements in common and what new elements are included?

Which of the following would be a lag measure?

At the beginning of 2011, Peters Company installed a JIT purchasing and manufacturing system.The following information has been gathered about one of the company's products: - What is the ideal conversion cost per unit?

A testable strategy is defined as

Lead measures

The number of units that can be produced in a given period of time is called

In the Balanced Scorecard system, core objectives and measures

Which type of responsibility accounting addresses directed continuous improvement in environments that consist of competitive conditions and dynamic change?

Directed continuous improvement is accomplished by linking initiatives to

A competitive environment means that organizations will be

At the beginning of 2011, Smith Company installed a JIT purchasing and manufacturing system.The following information has been gathered about one of the company's products. -What is the ideal conversion cost per unit?

_______________ are outcome measures that relate to customers.

Which of the following would be a subjective measure?

Which of the following is NOT a step in developing the Balanced Scorecard?

Why does the Balanced Scorecard differ from company to company? Whose responsibility is the implementation?

Stretch targets are

Strategy translation is concerned with

Introduction to Cost Management

Basic Cost Management Concepts

Cost Behavior

Activity-Based Costing

Product and Service Costing: Job-Order System

Process Costing

Allocating Costs of Support Departments and Joint Products

Budgeting for Planning and Control

Standard Costing: a Functional-Based Control Approach

Decentralization: Responsibility Accounting, Performance Evaluation, and Transfer Pricing

Strategic Cost Management

Activity-Based Management

Quality and Environmental Cost Management

Lean Accounting and Productivity Measurement

Cost-Volume-Profit Analysis

Activity Resource Usage Model and Tactical Decision Making

Pricing and Profitability Analysis

Capital Investment

Inventory Management: Economic Order Quantity, Jit, and the Theory of Constraints

Filters

Exam 13: The Balanced Scorecard: Strategic-Based Control

Which of the following would NOT be an objective measure?

The formula for computing Manufacturing Cycle Efficiency (MCE) is

Which of the following would be a nonfinancial measure?

Activity-based responsibility and strategic-based responsibility incorporate some of the same elements.However, strategic-based responsibility adds some new elements to the common dimensions.What are the elements in common and what new elements are included?

Which of the following would be a lag measure?

At the beginning of 2011, Peters Company installed a JIT purchasing and manufacturing system.The following information has been gathered about one of the company's products: - What is the ideal conversion cost per unit?

A testable strategy is defined as

Lead measures

The number of units that can be produced in a given period of time is called

In the Balanced Scorecard system, core objectives and measures

Which type of responsibility accounting addresses directed continuous improvement in environments that consist of competitive conditions and dynamic change?

Directed continuous improvement is accomplished by linking initiatives to

A competitive environment means that organizations will be

At the beginning of 2011, Smith Company installed a JIT purchasing and manufacturing system.The following information has been gathered about one of the company's products. -What is the ideal conversion cost per unit?

_______________ are outcome measures that relate to customers.

Which of the following would be a subjective measure?

Which of the following is NOT a step in developing the Balanced Scorecard?

Why does the Balanced Scorecard differ from company to company? Whose responsibility is the implementation?

Stretch targets are

Strategy translation is concerned with

Introduction to Cost Management

Basic Cost Management Concepts

Cost Behavior

Activity-Based Costing

Product and Service Costing: Job-Order System

Process Costing

Allocating Costs of Support Departments and Joint Products

Budgeting for Planning and Control

Standard Costing: a Functional-Based Control Approach

Decentralization: Responsibility Accounting, Performance Evaluation, and Transfer Pricing

Strategic Cost Management

Activity-Based Management

Quality and Environmental Cost Management

Lean Accounting and Productivity Measurement

Cost-Volume-Profit Analysis

Activity Resource Usage Model and Tactical Decision Making

Pricing and Profitability Analysis

Capital Investment

Inventory Management: Economic Order Quantity, Jit, and the Theory of Constraints

Filters