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Exam 14: Goals and Objectives

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Question 51

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Examples of feedback control include preventive maintenance on machinery and equipment and due diligence on investments.

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B) False

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Question 52

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What is balanced scorecard?

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Balanced scorecard is a control system t...

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Question 53

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_____________ controls are generally preferable performance can be measured through tangible performance metrics.

Costs can be controlled using __________, where managers compare actual expenses to forecasted ones.

An example of financial __________ is the fact that organizations are often required to perform and report the results of a financial audit.

Outcome controls are effective when there's little external interference between managerial decision making on the one hand and business performance on the other.

Lean organizations strive to improve flow by reducing the size of production batches but in the process, they increase costs.

Transportation is a cost with no added value.

_____________ expenses are those expenses that vary with the level of sales.

If $20,000 is made as a down payment and $80,000 is financed with a bank note to buy land and a building, the $80,000 is the

________________ are formal investigations to ensure that financial management practices follow generally accepted procedures, policies, laws, and ethical guidelines.

__________________ examines the relationship between specific figures on the financial statements and helps explain their significance.

What comprises the cash flow statement ion 4

The feedback control is the most proactive of controls, and is generally a basis for reactions.

What is the theory behind non-financial controls?

________________ may be bank notes or loans made to purchase the business's fixed asset structure.

The income/profit and loss statement represents the relation of income and expenses for the life of the firm.

What are the four steps of organizational control?

_____________ are a way for banks, investors, and other key stakeholders to understand the firm's financial health.

Describe what is typically included in an overall budget.