Question 1

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 2

The time it takes to produce one unit of product is called

Accepted Answer

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

Question 3

Which of the following would be considered a lead measure for employee capabilities?

Accepted Answer

A)  employee satisfaction 
B)  employee turnover 
C)  employee productivity 
D)  number of training hours 
A)  employee satisfaction 
B)  employee turnover 
C)  employee productivity 
D)  number of training hours

Question 4

If only the return on investment were used to measure performance, it would be considered

Accepted Answer

A)  double-loop feedback. 
B)  triple-loop feedback. 
C)  a testable strategy. 
D)  single-loop feedback. 
A)  double-loop feedback. 
B)  triple-loop feedback. 
C)  a testable strategy. 
D)  single-loop feedback.

Question 5

A testable strategy can be constructed

Accepted Answer

A)  by prioritizing objectives. 
B)  by sequencing if-then statements. 
C)  by creating alternative scenarios. 
D)  by creating lead measures. 
A)  by prioritizing objectives. 
B)  by sequencing if-then statements. 
C)  by creating alternative scenarios. 
D)  by creating lead measures.

Question 6

A major difference between activity-based responsibility accounting and strategic-based responsibility accounting is

Accepted Answer

A)  only strategic-based responsibility accounting is linked to strategy. 
B)  only strategic-based responsibility accounting is focused on systemwide efficiency. 
C)  only strategic-based responsibility accounting includes the process perspective. 
D)  only strategic-based responsibility accounting reinforces team accountability. 
A)  only strategic-based responsibility accounting is linked to strategy. 
B)  only strategic-based responsibility accounting is focused on systemwide efficiency. 
C)  only strategic-based responsibility accounting includes the process perspective. 
D)  only strategic-based responsibility accounting reinforces team accountability.

Question 7

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 8

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

Question 9

Performance expectations must be established once objectives and measures have been executed and advertised.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following would NOT be a core outcome measure for employee capabilities?

Accepted Answer

A)  employee satisfaction ratings 
B)  number of employees 
C)  employee turnover 
D)  employee productivity 
A)  employee satisfaction ratings 
B)  number of employees 
C)  employee turnover 
D)  employee productivity

Question 11

Compensation should be based on performance and paid based on percentage of objective achieved.

Accepted Answer

A) True 
 B)False

Question 12

Articulation of the balanced scorecard should not be made to individuals within the organization.

Accepted Answer

A) True 
 B)False

Question 13

Customer value is the sum of realization and sacrifice what the customer gives up and receives.

Accepted Answer

A) True 
 B)False

Question 14

The balanced scorecard

Accepted Answer

A)  is an activity-based responsibility accounting model that measures operating activities. 
B)  is a financial-based responsibility accounting model that focuses on the financial performance of units, rewarding performance with static financial-oriented standards. 
C)  is a strategic-based financial reporting system that balances assets with liabilities and owner's equity. 
D)  is a strategic-based performance management system that identifies objectives and measures from a financial perspective, customer perspective, process perspective, and learning and growth perspective. 
A)  is an activity-based responsibility accounting model that measures operating activities. 
B)  is a financial-based responsibility accounting model that focuses on the financial performance of units, rewarding performance with static financial-oriented standards. 
C)  is a strategic-based financial reporting system that balances assets with liabilities and owner's equity. 
D)  is a strategic-based performance management system that identifies objectives and measures from a financial perspective, customer perspective, process perspective, and learning and growth perspective.

Question 15

Cycle time is

Accepted Answer

A)  the time it takes to collect the account after the sale. 
B)  the time it takes to turn inventory over. 
C)  the time it takes to deliver the product after it is sold. 
D)  the time it takes to produce one unit of product. 
A)  the time it takes to collect the account after the sale. 
B)  the time it takes to turn inventory over. 
C)  the time it takes to deliver the product after it is sold. 
D)  the time it takes to produce one unit of product.

Question 16

Diversifying customers and product lines are initiatives important to

Accepted Answer

A)  revenue growth. 
B)  cost reduction. 
C)  asset utilization. 
D)  risk management. 
A)  revenue growth. 
B)  cost reduction. 
C)  asset utilization. 
D)  risk management.

Question 17

Which is a major difference between activity-based measures and strategic-based measures?

Accepted Answer

A)  Strategic-based measures are linked to strategy. 
B)  Strategic-based measures are used to align objectives. 
C)  Strategic-based measures are balanced measures. 
D)  all of the above. 
A)  Strategic-based measures are linked to strategy. 
B)  Strategic-based measures are used to align objectives. 
C)  Strategic-based measures are balanced measures. 
D)  all of the above.

Question 18

Choosing general goals, customer segment, and nature of a business are all concern of strategy __________ .

Accepted Answer

The answer of Choosing general goals, customer segment, and nature...

Question 19

For strategic alignment, incentive compensation should be based on performance, compared to target values.

Accepted Answer

The answer of For strategic alignment, incentive compensation should be...

Question 20

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

Directed continuous improvement is accomplished by linking initiatives to

The time it takes to produce one unit of product is called

Which of the following would be considered a lead measure for employee capabilities?

If only the return on investment were used to measure performance, it would be considered

A testable strategy can be constructed

A major difference between activity-based responsibility accounting and strategic-based responsibility accounting is

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

In the Balanced Scorecard system, core objectives and measures

Performance expectations must be established once objectives and measures have been executed and advertised.

Which of the following would NOT be a core outcome measure for employee capabilities?

Compensation should be based on performance and paid based on percentage of objective achieved.

Articulation of the balanced scorecard should not be made to individuals within the organization.

Customer value is the sum of realization and sacrifice what the customer gives up and receives.

The balanced scorecard

Cycle time is

Diversifying customers and product lines are initiatives important to

Which is a major difference between activity-based measures and strategic-based measures?

Choosing general goals, customer segment, and nature of a business are all concern of strategy __________ .

For strategic alignment, incentive compensation should be based on performance, compared to target values.

Which of the following would be a nonfinancial measure?

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

Directed continuous improvement is accomplished by linking initiatives to

The time it takes to produce one unit of product is called

Which of the following would be considered a lead measure for employee capabilities?

If only the return on investment were used to measure performance, it would be considered

A testable strategy can be constructed

A major difference between activity-based responsibility accounting and strategic-based responsibility accounting is

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

In the Balanced Scorecard system, core objectives and measures

Performance expectations must be established once objectives and measures have been executed and advertised.

Which of the following would NOT be a core outcome measure for employee capabilities?

Compensation should be based on performance and paid based on percentage of objective achieved.

Articulation of the balanced scorecard should not be made to individuals within the organization.

Customer value is the sum of realization and sacrifice what the customer gives up and receives.

The balanced scorecard

Cycle time is

Diversifying customers and product lines are initiatives important to

Which is a major difference between activity-based measures and strategic-based measures?

Choosing general goals, customer segment, and nature of a business are all concern of strategy __________ .

For strategic alignment, incentive compensation should be based on performance, compared to target values.

Which of the following would be a nonfinancial measure?

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