Assignment
Question 1
A sources and uses of funds statement is often called a ____________.
liquidity statement
net income/loss statement
statement of assets and liabilities
cash flow statement
Question 2
Information supplied to managers is data that has been ____________.
encouraged
collected or obtained
provided
organized
Question 3
Examples of feedforward controls include ____________ controls.
diagnostic
therapeutic
backlash
prevention
Question 4
Often in organization we use a ____________ as a measure of quality or quantity to monitor people.
skill level
employee productivity measure
standard
employee policy
Question 5
All of the following accounting elements are found on the income statement, except _________.
liabilities
operating expenses
revenue
net income
Question 6
The percentage of an organization's work force not at work on any given day is ____________.
turnover
employee attendance
employee behavior
absenteeism
Question 7
Computer operating systems are a complex array of ____________.
personnel
programs
finances
statistics
Question 8
Budgeting requires all of the following except:
adjusting goals
not adjusting goals
setting goals
locating needed funds
Question 9
Controls that focus on "after the fact" are called ____________ controls.
feedback
therapeutic
diagnostic
feedforward
Question 10
A(n) ____________ is any guideline or benchmark established as a basis for measurement or point of reference.
estimation
standard
indication
rule of thumb
Question 11
A highly disciplined process that helps companies focus on developing and delivering near-perfect products and services is:
quality control.
quality circles.
quality assurance.
Six Sigma.
Question 12
The strategic goals and plans made at the top level in an organization are derived from the organization's:
single-use plans.
purpose and mission.
standing plans.
operating employee's.
Question 13
A validation process to ensure measurement accuracy and standardization is known as:
kaizen.
standards.
a QA system.
quality control.
Question 14
Which of the following statements about information is not true?
Information helps to highlight actual and potential problems.
Information helps managers plan and organize operations.
Information does not help to create operational plans.
Information helps managers properly use their resources.
Question 15
Many major airports require people and their carry-on, personal belongings to be screened through a metal detection device. This procedure is a concurrent as well as ____________ control.
feedforward
feedback
therapeutic
process
Question 16
Any organizational unit that contributes costs, revenues, investments, or profits as part of the company's total accounting "package" is called a(n) ____________.
equity specialist
financial responsibility center
debt awareness department
controller
Question 17
The initial step of the control process is ____________.
establishing standards
taking corrective action
comparing performance to standards
measuring performance
Question 18
A balance sheet consists of three major sections. Which of the following is one of those sections?
liabilities
retained earnings
income
common stock
Question 19
The concept that measurements provided by the control process will reach the proper decision makers when they are needed is the concept of:
integration.
concurrent.
timeliness.
accuracy.
Question 20
The steps in the control process include the following except:
measuring performance.
taking corrective action.
establishing performance standards.
developing standing plans.