Week 5 Knowledge CheckResults Score: 14/17

Concepts Mastery Questions

Control Process 75% 1 2 3 4

Feedforward/

Concurrent/ 100% 5 6 7

Feedback Controls

Financial Controls 67% 8 9 10

Balanced Scorecard 75% 11 12 13 14

Benchmarking 100% 15 16 17

Concept: Control Process

Concepts Mastery Questions

Control Process 75% 1 2 3 4

1.The control process assumes that ____.

        A.    employees require clear directions from management

        B.    employees are underqualified and require training

        C.    specific goals for performance were already created

              during the planning process

        D.    employee monitoring costs are part and parcel of doing

              business

2.An example of control criteria that can be used in any situation is

____.

        A.   number of calls taken per day

        B.   employee satisfaction

        C.   average time to process paperwork

        D.   client requests completed per hour

3.In reviewing the results of the control process, managers could

choose to avoid taking action when ____.

        A.   employees require clear directions from management

        B.   employees are underqualified and require training

        C.   specific goals for performance were already created

             during the planning process

        D.   employee monitoring costs are part and parcel of doing

             business

4.In reviewing the result of the control process, managers could

choose to avoid taking action when ____.

        A.   an employee fails to attain the standard because of

             internal problems

        B.   the variance between actual performance and the

             standard is acceptable

        C.   performance standards are acceptable, though the

             employees have not attained it

        D.   the variance observed from the expected performance is

             caused due to unrealistic standards

5.Which of the following types of control prevents problems because

it takes place prior to the actual activity?

        A.   Feedforward control

        B.   Concurrent control

        C.   Feedback control

        D.   Management control

6.Management by walking around is what type of control?

        A.   Feedforward control

        B.   Concurrent control

        C.   Feedback control

        D.   Reactive control

7.What type of control gives employees information on how well they

performed, and therefore, can increase motivation?

        A.   Feedforward control

        B.   Concurrent control

        C.   Feedback control

        D.   Proactive control

8.The current ratio and acid test are two examples of what type of

ratio?

        A.   Activity

        B.   Liquidity

        C.   Leverage

        D.   Profitability

9.Which of the following ratios measures an organizations ability to

meet financial obligations (debt) and allow someone to understand

the companys use of different methods of financing to pay interest?

        A.   Liquidity ratios

        B.   Leverage ratios

        C.   Profitability

        D.   Activity ratios