MNGT 3810 Revision Exam 5 Questions And Already Passed Answers.
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Course
MNGT 3810
Institution
MNGT 3810
Controls can help managers determine if their strategy is achieving the desired results. What is a major reason why managers would not implement all of the controls that are available?
A: Having too many controls would eliminate the need for managers.
B: Employees don't want their performance mea...
MNGT 3810 Revision Exam 5 Questions
And Already Passed Answers.
Controls can help managers determine if their strategy is achieving the desired results. What is a major
reason why managers would not implement all of the controls that are available?
A: Having too many controls would eliminate the need for managers.
B: Employees don't want their performance measured.
C: Controls are only necessary for the company's primary products.
D: The costs of some controls outweigh their benefits. - Answer D: The costs of some controls outweigh
their benefits.
If Melissa wanted to follow the accomplishments of her financial goals, she could easily compare her
actual spending to her _______________.
A: Total revenue
B: Budget
C: Account balance
D: Tax rate - Answer B. Budget
Put the four steps of organizational control in order. Start with the first step at the top of the list. -
Answer 1. Establish standards
2. Measure performance
3. Compare performance to standards (expectations)
4. Take corrective actions as necessary
Two key types of organizational controls, _________ controls allow managers to step back and look at
the big picture and make sure all the pieces of the picture are correctly aligned, while ____________
controls function within the framework established by the strategy that provide the goals, objectives,
and standards for major subsystems within the organization. - Answer strategic; operational
, What type of controls involve the process of monitoring and adjusting ongoing activities and processes in
real-time in order to prevent problems from becoming worse?
A: Process
B: Strategic
C: Concurrent
D: Organizational - Answer C:Concurrent
What type of controls involves gathering information about a completed activity, evaluating that
information, and taking steps to improve similar activities in the future?
A: Concurrent
B: Feedback
C: Operational
D: Behavioral - Answer B: Feedback
The __________ summarizes all financial activity that occurred over a designated period of time.
A: statement of cash flows
B: balance sheet
C: income statement
D: budget - Answer C: income statement
The __________ is a snapshot of the business's financial position at a specific point in time. It identifies
what the business owns and what it owes.
A: balance sheet
B: income statement
C: budget
D: statement of cash flows - Answer A: balance sheet
__________ are a way for banks, investors, and other key stakeholders to understand the firm's financial
health.
A: Employee satisfaction surverys
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