Question 1

The percentage of graduates who find a job within six months of graduation is a ____ control for colleges and universities.
A) preliminary
B) screening
C) postaction
D) cybernetic
E) feedback

Accepted Answer

The answer of The percentage of graduates who find a...

Question 2

Screening controls
A) take place during the transformation process.
B) involve interviewing potential employees.
C) are the same as preliminary control.
D) determine organizational flexibility.
E) determine accuracy of organizational standards.

Accepted Answer

Screening controls are a type of internal control that takes place during the transformation process, aiming to ensure that the ongoing operations meet the set standards and are on track towards achieving the organizational goals.

Question 3

The ____ budgets are organizational budgets that outline quantities of product/service to be produced and what resources will be used.
A) operating
B) capital expenditure
C) revenue
D) cash-flow
E) nonmonetary

Accepted Answer

The answer of The ____ budgets are organizational budgets that...

Question 4

Which of the following is NOT a major form of operations control discussed in the text?
A) Preliminary
B) Screening
C) Postaction
D) Functional
E) None of these choices

Accepted Answer

The three major forms of operations control discussed in the text are preliminary, screening, and postaction. Functional control is not mentioned as a major form of operations control.

Question 5

Which of the following is NOT a type of operating budget?
A) Production
B) Sales
C) Expense
D) Profit
E) Revenue

Accepted Answer

The answer of Which of the following is NOT a...

Question 6

Budgets
A) help managers coordinate resources.
B) help define standards for control.
C) provide guidelines about resources.
D) enable the evaluation of the performance of managers.
E) All of these choices

Accepted Answer

Budgets serve multiple purposes, including helping managers coordinate resources, define standards for control, provide guidelines about resources, and enabling the evaluation of the performance of managers. Therefore, all of these choices are correct, making option E the best answer.

Question 7

Which of the following statements does NOT describe a weakness associated with budgeting?
A) Some managers apply budgets too rigidly.
B) Developing budgets can be very time consuming.
C) Budgets link planning and controlling.
D) Budgets may limit innovation and change.
E) Budgets may make it impossible to procure funds to take advantage of an unexpected opportunity.

Accepted Answer

This statement describes a strength of budgeting, as budgets do link planning and controlling. The other statements describe weaknesses associated with budgeting.

Question 8

Postaction control is most appropriate when the
A) time between goal setting and attainment is short.
B) product being produced is nonperishable.
C) product being produced is simple and routine.
D) production process is very complicated.
E) volume of product output is extremely large.

Accepted Answer

The answer of Postaction control is most appropriate when the
A)...

Question 9

Amazon asks customers to rate their experience with the product and service.This is an example of ____ control.
A) preliminary
B) screening
C) postaction
D) cybernetic
E) feedback

Accepted Answer

The answer of Amazon asks customers to rate their experience...

Question 10

Politicians transform information from many sources into decisions about policies for the area they govern.When politicians follow poll results during legislative debate,the politicians are using ____ control.
A) preliminary
B) screening
C) postaction
D) cybernetic
E) feedback

Accepted Answer

Screening control involves filtering and analyzing information from various sources to make decisions. Checking poll results is an example of screening control as politicians use this information to make decisions during legislative debates. Preliminary control involves setting standards and goals before starting an activity, postaction control involves evaluating results after an activity, cybernetic control involves using feedback to adjust ongoing activities.

Question 11

The University of Michigan develops a budget that shows its projected income from sources such as the state of Michigan,tuition and fees,alumni contributions,and research grants.This is an example of a(n)____ budget.
A) revenue
B) output
C) capital expenditures
D) balance sheet
E) cash-flow

Accepted Answer

The budget described in the scenario is focused on projected income, making it a revenue budget.

Question 12

At the end of each fiscal year,managers note in their performance reports if they are under budget.This is an example of a(n)____control.
A) labor
B) operations
C) information
D) finance
E) revenue

Accepted Answer

The fact that managers are noting whether they are under budget at the end of each fiscal year suggests that this is a finance control. This type of control is used to monitor financial performance and ensure that spending and revenue targets are being met. Labor controls involve monitoring employee productivity and efficiency, while operations controls aim to improve the efficiency and effectiveness of business processes. Information controls involve the management of data and information systems, while revenue controls focus on the management of income and sales. None of these options seem to fit the scenario described.

Question 13

As the product being produced becomes more complex,which of the following types of operations controls would logically become more important?
A) Preliminary
B) Screening
C) Postaction
D) Preliminary.
E) Feedback

Accepted Answer

The answer of As the product being produced becomes more...

Question 14

Politicians transform information from many sources into decisions about policies for the area they govern.When politicians follow poll results after the passage of legislation,the politicians are using ____ control.
A) preliminary
B) screening
C) postaction
D) cybernetic
E) feedback

Accepted Answer

Postaction control refers to looking at the results of a decision or action and using that information to make future decisions. In this case, the politicians are using poll results (which provide information about the results of their decision) to guide their future actions, making it an example of postaction control.

Question 15

Deirdre is a freelance editor.She knows how many chapters she needs to edit and approximately how long each chapter takes.She is calculating what she needs to do to meet her next deadline.She is making a ____ budget.
A) labor
B) production
C) space
D) balance sheet
E) capital expenditure

Accepted Answer

Deirdre is calculating the amount of labor (i.e. time and effort) needed to complete the editing task within the given deadline, so she is making a labor budget.

Question 16

A plant manager is told that she has 8,000 labor hours to allocate in a week.This is an example of a(n)____ budget.
A) operations
B) financial
C) nonmonetary
D) output
E) expense

Accepted Answer

This is an example of a nonmonetary budget because it involves the allocation of labor hours, which are a non-financial resource.

Question 17

Which of the following is NOT a type of financial budget?
A) Cash-flow
B) Capital expenditure
C) Balance sheet
D) Cash
E) Profit

Accepted Answer

The answer of Which of the following is NOT a...

Question 18

Once a year Boy Scout troops submit financial reports describing income and expenditures.This is an example of ____ control.
A) preliminary
B) screening
C) postaction
D) cybernetic
E) feedback

Accepted Answer

This is an example of postaction control, as the financial reports are being submitted after the income and expenditures have already occurred.

Question 19

Which of the following is a type of financial budget that deals with forecasting the organization's assets and liabilities in the event all other budgets are met?
A) Cash-flow
B) Liquidity
C) Capital expenditure
D) Balance sheet
E) Pro forma

Accepted Answer

The balance sheet is a financial statement that shows an organization's assets, liabilities, and equity at a specific point in time. It forecasts the organization's assets and liabilities in the event all other budgets are met. A balance sheet helps in assessing an organization's financial health and its ability to pay its financial obligations.

Question 20

Politicians transform information from many sources into decisions about policies for the area they govern.When politicians "float an idea" by having a staff member leak it to the press to gauge reaction,the politician's staff is using ____ control.
A) screening
B) preliminary
C) postaction
D) cybernetic
E) yes-no

Accepted Answer

The use of leaking an idea to the press to gauge reaction is a form of preliminary control, as it is done prior to taking formal action on the idea. Screening control involves filtering information before it reaches decision-makers, postaction control takes place after a decision has been made, cybernetic control involves monitoring and adjusting processes to meet goals, and yes-no control involves decision-making based on binary choices.

Quiz 19: Basic Elements of Control

The percentage of graduates who find a job within six months of graduation is a ____ control for colleges and universities.

Screening controls

The ____ budgets are organizational budgets that outline quantities of product/service to be produced and what resources will be used.

Which of the following is NOT a major form of operations control discussed in the text?

Which of the following is NOT a type of operating budget?

Budgets

Which of the following statements does NOT describe a weakness associated with budgeting?

Postaction control is most appropriate when the

Amazon asks customers to rate their experience with the product and service.This is an example of ____ control.

Politicians transform information from many sources into decisions about policies for the area they govern.When politicians follow poll results during legislative debate,the politicians are using ____ control.

The University of Michigan develops a budget that shows its projected income from sources such as the state of Michigan,tuition and fees,alumni contributions,and research grants.This is an example of a(n) ____ budget.

At the end of each fiscal year,managers note in their performance reports if they are under budget.This is an example of a(n) ____control.

As the product being produced becomes more complex,which of the following types of operations controls would logically become more important?

Politicians transform information from many sources into decisions about policies for the area they govern.When politicians follow poll results after the passage of legislation,the politicians are using ____ control.

Deirdre is a freelance editor.She knows how many chapters she needs to edit and approximately how long each chapter takes.She is calculating what she needs to do to meet her next deadline.She is making a ____ budget.

A plant manager is told that she has 8,000 labor hours to allocate in a week.This is an example of a(n) ____ budget.

Which of the following is NOT a type of financial budget?

Once a year Boy Scout troops submit financial reports describing income and expenditures.This is an example of ____ control.

Which of the following is a type of financial budget that deals with forecasting the organization's assets and liabilities in the event all other budgets are met?

Politicians transform information from many sources into decisions about policies for the area they govern.When politicians "float an idea" by having a staff member leak it to the press to gauge reaction,the politician's staff is using ____ control.