Question 1

At the end of every month,the accounting department submits a balance sheet,statement of profit and loss,and cash flow statement to the senior management team.These are all ________.
A)personal observations
B)statistical reports
C)oral reports
D)written reports

Accepted Answer

The sentence mentions that the accounting department submits balance sheets, statements of profit and loss, and cash flow statements to the senior management team. These are all financial documents and the most appropriate option is written reports.

Question 2

________ is the final step in the management process,which provides a critical link back to ________.
A)Organizing; planning
B)Planning; controlling
C)Controlling; planning
D)Leading; organizing

Accepted Answer

Controlling is the final step in the management process and it provides a critical link back to planning, as controlling compares actual performance with planned performance and takes corrective actions if necessary to ensure that the goals and objectives are met.

Question 3

Which of the following sources of information for measuring performance is subject to personal biases,time consuming,and obtrusive?
A)oral reports
B)personal observations
C)statistical reports
D)written reports

Accepted Answer

Personal observations are subject to personal biases and can be time-consuming and obtrusive, as it may require the observer to be present and actively observing the performance. Oral reports, statistical reports, and written reports may also have their limitations, but they are generally less subjective and can be easier to collect and analyze.

Question 4

Statco,Inc.,has struggled to meet projected revenues for each of the past ten quarters.The firm hired Mark Adams to design a control system and offer suggestions to improve the firm's performance.Which of the following is a key activity that the proposed control system should perform?
A)organizational planning
B)organizational structuring
C)performance measurement
D)corporate governance

Accepted Answer

The key activity that the proposed control system should perform in this scenario is performance measurement. Since the company has not been meeting its projected revenues for the past ten quarters, it is important to measure performance in order to identify areas that need improvement and take corrective action. Organizational planning and structuring are not as important in this specific scenario, as the control system is not focused on strategic decision-making or reorganization. Corporate governance may be important in ensuring that the company's leadership is acting in the best interest of shareholders, but this is not the main issue at hand in this scenario.

Question 5

Managers engage in controlling activities to protect the organization and its assets.

Accepted Answer

Controlling activities are one of the four functions of management, which also include planning, organizing, and leading. The purpose of controlling is to monitor and evaluate organizational performance, and take corrective actions if necessary, to ensure the achievement of the organization's goals and protect its assets.

Question 6

Which of the following observations best explains why the control function is important?
A)An effective control system includes employee empowerment.
B)An effective control system assures that the organization will meet or exceed its goals.
C)An effective control system is the only way managers know whether organizational goals are being met.
D)Organizational strategies are formed during the controlling stage.

Accepted Answer

An effective control system is crucial because it provides feedback on whether organizational goals are being met, allowing managers to make necessary adjustments.

Question 7

The control process assumes that ________.
A)feedback is the only way to improve performance
B)managers will be aware of the actions and activities of their employees
C)performance standards are already in place
D)employee monitoring costs are part and parcel of doing business

Accepted Answer

The control process assumes that performance standards are already in place, which allows managers to compare actual performance against the established standards. This helps managers to identify any deviations or variances from the expected performance and take corrective actions. Therefore, performance standards are a crucial element of the control process. Feedback, employee monitoring costs, and awareness of employee actions are also important but are not the sole assumptions of the control process.

Question 8

The first step in the control process is ________.
A)setting the desired standards
B)measuring actual performance
C)comparing performance against expectations
D)enforcing managerial control

Accepted Answer

The answer of The first step in the control process...

Question 9

Mark wants to use a tool which is easy to visualize and effective for showing relationships.Which of the following tools is best suited for this?
A)benchmarking
B)balanced scorecard
C)written reports
D)statistical reports

Accepted Answer

The answer of Mark wants to use a tool which...

Question 10

Which of the following management responsibilities determines if organizational goals are being achieved?
A)designing the organization's structure
B)motivating employees
C)formulating business strategy
D)measuring firm performance

Accepted Answer

Measuring firm performance is a management responsibility that involves evaluating the organization's progress towards achieving its goals. By setting specific targets and regularly tracking and analyzing performance metrics, managers can determine if the organization is on track to meet its objectives and make necessary adjustments to improve results. A, B, and C are also important management responsibilities, but they are more focused on designing the organization's structure, motivating employees, and formulating business strategy than specifically evaluating goal achievement.

Question 11

Which of the following sources usually provides filtered information which cannot be documented?
A)oral reports
B)personal observations
C)online reports
D)written reports

Accepted Answer

Oral reports often provide filtered information as they are subject to personal interpretation and memory, and they are not documented, making it difficult to verify or reference the information later.

Question 12

Having a control system reduces the scope of employee empowerment and autonomy.

Accepted Answer

A control system can actually enhance employee empowerment and autonomy by providing clear guidelines and objectives, allowing employees to understand their roles and make decisions within a defined framework.

Question 13

Brenda is always ready with a story to tell about performance in her area.Unfortunately,Brenda sometimes leaves out important facts and makes statements that cannot be corroborated.Brenda is delivering ________.
A)personal observations
B)statistical reports
C)oral reports
D)written reports

Accepted Answer

Brenda is delivering oral reports, as she is sharing stories verbally. She may be providing personal observations, but the unreliable nature of her statements suggests that they cannot be considered statistical or written reports.

Question 14

Which of the following sources provides information which is comprehensive,formal,and easy to file and retrieve?
A)oral reports
B)personal observations
C)online reports
D)written reports

Accepted Answer

Written reports provide comprehensive information that is formal and easy to file and retrieve. Compared to oral reports, written reports can be reviewed and referenced at any time. Personal observations may not be comprehensive and may be subjective. Online reports may not be formal and may be difficult to retrieve if not properly organized.

Question 15

Controlling is the process of monitoring,comparing,and correcting work performance.

Accepted Answer

Controlling involves the continuous monitoring of work performance, comparing it with predetermined standards, identifying deviations, and taking corrective action when necessary.

Question 16

Which of the following is one of the main advantages of using statistical reports as the source of information?
A)Statistical reports can be used to obtain firsthand knowledge.
B)Unfiltered information can be obtained using statistical reports.
C)Statistical reports are effective for showing relationships.
D)Statistical reports provide unbiased information.

Accepted Answer

Statistical reports are effective for showing relationships because they often include data analysis that highlights correlations, trends, and patterns within the data.

Question 17

Annette is watching her new employee as he executes the steps in making French fries.Her purpose is to make sure he follows the instructions exactly as given.Annette is using ________.
A)personal observation
B)statistical reports
C)mentoring
D)nonverbal feedback

Accepted Answer

Annette is using personal observation to monitor her employee's performance and ensure he follows the instructions accurately.

Question 18

Andrew prefers to get his performance data in the form of charts and graphs.Andrew prefers ________.
A)personal observations
B)statistical reports
C)oral reports
D)written reports

Accepted Answer

Charts and graphs are tools used to visualize statistical data, making option B the correct choice.

Question 19

________ refers to the process of monitoring,comparing,and correcting work performance.
A)Controlling
B)Checking
C)Measuring
D)Verifying

Accepted Answer

Controlling is the management function that involves monitoring, comparing, and correcting work performance to ensure that goals and objectives are being achieved. Checking, measuring, and verifying are all elements of controlling, but controlling involves more than just these tasks. It also involves taking corrective action when performance deviates from standards.

Question 20

What are the major reasons why the control function is important to managers?

Accepted Answer

The answer of What are the major reasons why the...

Quiz 18: Monitoring and Controlling

At the end of every month,the accounting department submits a balance sheet,statement of profit and loss,and cash flow statement to the senior management team.These are all ________.

is the final step in the management process,which provides a critical link back to .

Which of the following sources of information for measuring performance is subject to personal biases,time consuming,and obtrusive?

Statco,Inc.,has struggled to meet projected revenues for each of the past ten quarters.The firm hired Mark Adams to design a control system and offer suggestions to improve the firm's performance.Which of the following is a key activity that the proposed control system should perform?

Managers engage in controlling activities to protect the organization and its assets.

Which of the following observations best explains why the control function is important?

The control process assumes that ________.

The first step in the control process is ________.

Mark wants to use a tool which is easy to visualize and effective for showing relationships.Which of the following tools is best suited for this?

Which of the following management responsibilities determines if organizational goals are being achieved?

Which of the following sources usually provides filtered information which cannot be documented?

Having a control system reduces the scope of employee empowerment and autonomy.

Brenda is always ready with a story to tell about performance in her area.Unfortunately,Brenda sometimes leaves out important facts and makes statements that cannot be corroborated.Brenda is delivering ________.

Which of the following sources provides information which is comprehensive,formal,and easy to file and retrieve?

Controlling is the process of monitoring,comparing,and correcting work performance.

Which of the following is one of the main advantages of using statistical reports as the source of information?

Annette is watching her new employee as he executes the steps in making French fries.Her purpose is to make sure he follows the instructions exactly as given.Annette is using ________.

Andrew prefers to get his performance data in the form of charts and graphs.Andrew prefers ________.

________ refers to the process of monitoring,comparing,and correcting work performance.

What are the major reasons why the control function is important to managers?