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1 | |
The process of comparing actual performance to planned performance is part of the planning process.
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| | A) | TRUE
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| | B) | FALSE
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2 | |
The control process takes place before planning is completed.
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| | A) | TRUE
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| | B) | FALSE
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3 | |
Feedback is not an essential part of the control process.
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| | A) | TRUE
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| | B) | FALSE
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4 | |
When actual performance is less than planned performance, managers typically reduce the number of controls.
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| | A) | TRUE
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| | B) | FALSE
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5 | |
The budget is the most frequently used control method. |
| | A) | TRUE |
| | B) | FALSE |
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6 | |
Determining what actually happened as compared to what was supposed to happen is part of:
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| | A) | planning.
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| | B) | organizing.
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| | C) | control.
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| | D) | leading.
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7 | |
If a company has sales of $2.4 million, total assets of $12 million, and net profit of $200,000, its return on assets is:
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| | A) | 1.7%.
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| | B) | 8.3%.
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| | C) | 20%.
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| | D) | none of the above.
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8 | |
The process of deciding when production quality is "out of control" refers to:
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| | A) | an arbitrary standard.
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| | B) | an aftereffect.
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| | C) | control tolerance.
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| | D) | intrapreneuring.
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9 | |
If a company has a net profit of $350,000, sales of $3.2 million, and total assets of $5 million, its return on assets is:
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| | A) | 10.9%.
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| | B) | 64%.
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| | C) | 7%.
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| | D) | none of the above.
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10 | |
Personal control is also called:
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| | A) | dynamic control.
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| | B) | behavior control.
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| | C) | impersonal control.
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| | D) | abnormal control.
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11 | |
When a supervisor at a McDonald's restaurant keeps a close eye on the "associates" to be sure that they are performing their jobs correctly, this is an example of:
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| | A) | planning.
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| | B) | organizing.
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| | C) | behavior control.
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| | D) | delayed control.
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12 | |
Tracking the weekly profit figures at Wal-Mart stores in the Midwest is an example of:
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| | A) | organizing.
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| | B) | leading.
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| | C) | input control.
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| | D) | output control.
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13 | |
Steering controls are also called ______ controls.
|
| | A) | concurrent
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| | B) | ad hoc
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| | C) | postaction
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| | D) | preliminary
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14 | |
When a company requires the finance department to approve all expenditures over $300 before they are made, this is an example of ______ control.
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| | A) | concurrent
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| | B) | postaction
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| | C) | steering
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| | D) | screening
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15 | |
A Balance Sheet includes a summary of the company's:
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| | A) | liabilities.
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| | B) | retained earnings.
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| | C) | assets.
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| | D) | all of the above.
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16 | |
If a company has net profit of $75,000, sales of $1.6 million, and total assets of $2.1 million, its net profit margin is:
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| | A) | 3.6%.
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| | B) | 4.7%.
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| | C) | 76.2%
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| | D) | none of the above.
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17 | |
When managers are asked to prepare a budget for their department "on a clean sheet of paper" as if they had never prepared a budget for their department previously, this is an example of a(n) ______ budget.
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| | A) | flexible
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| | B) | balance sheet
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| | C) | zero-base
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| | D) | cash
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18 | |
If a company has total debt of $1.4 million, net profit of $60,000, and stockholders' equity of $2.3 million, it debt to equity ratio is:
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| | A) | 4.3%.
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| | B) | 2.6%.
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| | C) | 60.9%.
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| | D) | none of the above.
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19 | |
If a company has sales of $3.6 million, cost of good sold of $2.8 million, and net profit of $55,000, its gross profit margin is:
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| | A) | $800,000.
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| | B) | $3.5 million.
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| | C) | $2.7 million.
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| | D) | none of the above.
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20 | |
When a checkout clerk at a supermarket tries to "balance" her total sales figure with her cash in the drawer, this is an example of ______ control.
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| | A) | operator.
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| | B) | informational.
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| | C) | foolproof.
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| | D) | none of the above.
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2003 McGraw-Hill Higher Education