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MGT 521 Week 5 Quiz

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MGT 521 Week 5 Quiz 1. The control process assumes that ________. • A. employees require clear directions from management • B. employees are underqualified and require training • C. specific goals for performance were already created during the planning process • D. employee monitoring costs are part and parcel of doing business Materials • The Control Process 2. An example of control criteria that can be used in any situation is ________. • A. number of calls taken per day • B. employee satisfaction • C. average time to process paperwork • D. client requests completed per hour Materials • Step 1. Measuring Actual Performance 3. In reviewing the result of the control process, managers could choose to avoid taking action when ________. • A. an employee fails to attain the standard because of internal problems • B. the variance between actual performance and the standard is acceptable • C. performance standards are acceptable, though the employees have not attained it • D. the variance observed from the expected performance is caused due to unrealistic standards Materials • Managerial Decisions in Controlling 17. If a manager rationalizes that he does not have time to investigate the source of a problem and instead resorts to “putting out fires,” the manager is missing the use of ________. • A. bureaucratic control • B. immediate corrective action • C. basic corrective action • D. concurrent control Materials • Correct Actual Performance Concept: Feedforward/Concurrent/Feedback Controls Mastery 100% Questions • 4 • 5• 6 Materials on the concept • Feedforward/Concurrent/Feedback Controls • Feedforward Control • Introduction to Controlling • Concurrent Control • Feedback Control 4. Which of the following types of control prevents problems because it takes place prior to the actual activity? • A. Feedforward control • B. Concurrent control • C. Feedback control • D. Management control Materials • Feedforward Control 5. Management by walking around is what type of control? • A. Feedforward control • B. Concurrent control • C. Feedback control • D. Reactive control Materials • Concurrent Control 6. What type of control gives employees information on how well they performed, and therefore, can increase motivation? • A. Feedforward control • B. Concurrent control • C. Feedback control • D. Proactive control Materials • Feedback Control Concept: Financial Controls Mastery 100% Questions • 7 • 8• 9 Materials on the concept • Financial Controls • Introduction to Controlling • Tools for Measuring Organizational Performance 7. The current ratio and acid test are two examples of what type of ratio? • A. Activity • B. Liquidity • C. Leverage • D. Profitability Materials • Financial Controls 8. Which of the following ratios measures an organization’s ability to meet financial obligations (debt) and allow someone to understand the company’s use of different methods of financing to pay interest? • A. Liquidity ratios • B. Leverage ratios • C. Profitability • D. Activity ratios Materials • Financial Controls 9. If a firm wants to measure items related to sales and turnover, it should use what type of ratio? • A. Liquidity • B. Leverage • C. Profitability • D. Activity Materials • Financial Controls Concept: Balanced Scorecard Mastery 100% Questions • 10 • 11 • 12 • 13 Materials on the concept • Introduction to Controlling • Tool

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