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Exam 14: Managing Control

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Question 31

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_____ indicates the company's ability to meet its long-term financial obligations.

A) Profitability ratio
B) Liquidity ratio
C) Debt-equity ratio
D) Current ratio
E) Net working capital ratio

F) All of the above
G) C) and E)

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Question 32

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Which type of control is future oriented and aims to prevent problems before they arise?

A) Feedback control
B) Specialist control
C) Feedforward control
D) Operator control
E) Concurrent control

F) A) and C)
G) B) and D)

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Question 33

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Empowerment is important in organizations today because:

Briefly describe market controls at the corporate level.

Describe the three broad strategies for achieving organizational control.

An itemized financial document of the income and the expenses of a company's operations is known as the:

_____ indicate(s) a company's ability to pay short-term debts.

_____ indicate management's ability to generate a financial return on sales or investment.

Describe feedback control, feedforward control, and concurrent control.

The Six Sigma approach is based on _____ that contribute(s) to customer satisfaction.

The cash budget should be prepared before all other budget estimates are completed.

Control and _____ have been called the Siamese twins of management.

Which of the following is recommended for managing in an empowered setting?

The last step in a typical control system is:

The use of market control mechanisms has been criticized by those who believe that:

Scenario B. Use the information given below to answer the following questions. Your manager is speaking to a group of employees about a problem in your department. Employees are not complying with the rules regarding the hours of work done per day. The rules in this situation are very important as the salary is linked to the number of hours worked. There are three suggestions being considered to address this problem: 1. Employees will be monitored at the entrance during shift changes to make sure that everyone enters data correctly. 2. Reports containing data tracking the number of hours worked will be reviewed regularly. Employees violating the rules will be counseled to correct the problem. 3. A new procedure will be developed describing an easier procedure for employees to ensure that they work the required number of hours. Training will be conducted so that each employee knows the policy and the procedure before it is enforced. -Which approach to bureaucratic control is described by the first option?

At a town hall meeting, the CEO of a company spoke energetically about adopting cost-cutting measures due to the recent economic slump. However, a few days later, the employees found out that the CEO had gone on an exotic vacation using funds from the company. Which of the following is true about this company?

The most common liquidity ratio is current assets to current liabilities, known as the:

Control systems lay out a framework for the future, and, in this sense, provide a blueprint for control.

Employees are often benefited as diversified companies are repeatedly bought and sold based on market controls.