MGAB03H3 Chapter Notes - Chapter 1-7: International Financial Reporting Standards, Management Control System, Total Quality Management

Please help me answer the following questions:
1. Management accounting:
A) is both retrospective, providing feedback about past operations,and also prospective, incorporating forecasts and estimates aboutfuture events.
B) is primarily oriented to external stakeholders.
C) must be consistent with rules formulated by the FinancialAccounting Standards Board (FASB).
D) provides information that is generally available only on aquarterly or annual basis.

2. Management accounting information is BEST described as:
A) providing a signal that something is wrong.
B) identifying and helping to explain what is wrong.
C) simply summarizing information, but giving no indication thatanything is wrong.
D) measuring overall organizational performance.

3. Which of the following would be MOST helpful for a top managerof a company?
A) profitability report of the company
B) information to monitor hourly and daily operations
C) number of customer complaints
D) operating expense summary reported by department

4. The Balanced Scorecard is said to be "balanced" because itmeasures:
A) short-term and long-term objectives.
B) financial and nonfinancial objectives.
C) internal and external objectives.
D) All of the above are correct.

5. The ________ perspective of the Balanced Scorecard asks, "How issuccess measured by our shareholders?"
A) learning and growth
B) customer
C) financial
D) shareholder


6. Defect rates for products and yield percentages in manufacturingare measures of quality included in the ________ perspective of theBalanced Scorecard.
A) financial
B) production
C) process
D) internal

7. The purpose of the Balanced Scorecard is BEST described ashelping an organization:
A) develop customer relations.
B) mobilize employee skills for continuous improvements inprocessing capabilities, quality, and response times.
C) introduce innovative products and services desired by targetcustomers.
D) translate an organization's mission, vision, and strategy into aset of performance measures that help to implement thestrategy.

8. The FIRST step in developing strategic objectives for theBalanced Scorecard is:
A) defining the long-run financial objectives.
B) identifying the target customer.
C) articulating the organization's vision.
D) select objectives for the customer value proposition.

9. Identify the BEST description of the Balanced Scorecard'scustomer perspective. To achieve our firm's vision andstrategy:
A) How do we lower costs?
B) How do we motivate employees?
C) How can we obtain greater profits?
D) How does the company intend to attract, retain, and deepenrelationships with targeted customers by differentiating itselffrom competitors?

10. Fixed costs:
A) may be either direct or indirect costs.
B) vary with production or sales volume.
C) include parts and materials used to manufacture a product.
D) can be adjusted in the short run to meet actual demands.


11. Which of the following describes a variable cost?
A) Variable cost are always indirect costs.
B) Variable costs increase in total when the actual level ofactivity increases.
C) Variable costs include most personnel costs and depreciation onmachinery.
D) Variable costs can always be traced directly to the costobject.

12. Cost-volume-profit analysis is used PRIMARILY bymanagement:
A) as a planning tool.
B) for control purposes.
C) to establish a target net income for next year.
D) to attain extremely accurate financial results.




13. The break-even point is the level at which revenues:
A) equal fixed costs.
B) equal variable costs.
C) equal fixed costs minus flexible costs.
D) equal variable costs plus fixed costs.

14. Cost-volume-profit analysis assumes all of the followingEXCEPT:
A) all costs are purely variable or fixed.
B) units manufactured equal units sold.
C) total variable costs remain the same over the relevantrange.
D) total fixed costs remain the same over the relevant range.

22jul15

Q1. Which is not likely to improve the effectiveness of a self-managed team?
a. let members share in financial gains from improved performance
b. change the membership frequently to give the team fresh ideas
c. provide accurate, timely information relevant to team activities
d. give members training in interpersonal and problem solving skills

Q2. Which type of activity is least likely to be delegated to a self-managed team?
a. evaluating each team member's task performance
b. firing a team member who has unsatisfactory performance
c. determining the work procedures to be used by the team
d. determining which team member will carry out each task

Q3. The primary purpose of a dialogue session is to:
a. debate competing proposals and identify the best one for the team
b. help members learn more about each other's interests and aspirations
c. encourage members to express their dissatisfaction with each other openly
d. increase understanding of implicit assumptions and mental models

Q4. Members are most likely to experience role conflict and divided loyalties in:
a. a cross-functional project team
b. a self-managed operational team
c. a traditional work team
d. an executive team

Q5. What is the most useful role for the external leader of a self-managed group?
a. select new members of the group when they are needed
b. mediate internal conflicts and encourage cooperation
c. monitor the group to ensure it does not become a social club
d. serve as a coach, facilitator, and advocate for the group

Q6. Which is not characteristic of Bradford's group-centered leadership?
a. the leader should emphasize group maintenance behavior as much as task oriented behavior
b. the leader should encourage members to share the responsibility for performing leadership functions
c. the leader should strive to maintain a rational discussion without emotional outbursts or expression of feelings
d. the leader should allow the group to make the final choice

Q7. What was found in research on the effectiveness of self-managed teams?
a. productivity and quality improved substantially
b. organizational commitment usually increased
c. turnover and absenteeism were lower
d. the results were inconsistent across studies

Q8. Which leadership function is especially important when a cross-functional team is initially formed to carry out a project?
a. planning and scheduling team activities to meet project deadlines
b. influencing outsiders to provide adequate resources, approvals, and assistance
c. articulating a vision or objective that inspires commitment by team members
d. mediating conflicts among members and helping them find integrative solutions

Q9. Which of the following is least likely to be a reason for an organization's failure to adapt to a changing environment?
a. leaders with a long-term perspective
b. highly specialized subunits
c. declining financial performance
d. institutionalization of power

Q10. Which condition is least important for the success of a new strategy?
a. it is based on the core competencies of the organization
b. it is compatible with significant changes in the external environment
c. it has a few clear themes relevant to the shared values of the members
d. it is similar to a strategy that was previously successful

Q11. What pattern of behavior is most likely for a CEO who has been in office for 3-4 years?
a. after the CEO consolidates power, he or she becomes more willing to experiment with innovative strategies
b. as the CEO gains confidence with a strategy that is working, he or she becomes more excited about gathering information to improve it
c. after the CEO selects a strategy and implements it, he or she becomes complacent and inflexible about changing it
d. after the CEO institutionalizes power, he or she becomes more willing to allow others to participate in making major decisions

Q12. Which condition does not limit a chief executive's discretion to make major changes in the strategy of an organization?
a. the organization has a few major clients who account for most sales
b. the organization has ample financial reserves
c. the culture of the organization is strong
d. the organization has a strong board of directors

Q13. When the competition is intense and the environment is changing rapidly, it is especially important to:
a. maintain a high level of external monitoring
b. have detailed plans and operating procedures
c. increase the power of the chief executive
d. strengthen the organization culture

Q14. When an organization has declining performance, a CEO who has been in office for several years is least likely to:
a. look for ways to improve implementation of the existing strategy
b. make small, incremental changes in the strategy
c. give a pep talk and urge people to redouble their effort
d. make major changes in the organization's strategy

Q15. Which of the following was not given as a guideline for external monitoring?
a. examine a wide range of developments and trends in the environment
b. make an extra effort to learn what clients and customers want and need
c. identify both the strengths and weaknesses of competing products
d. rely primarily on your own intuition to analyze the environment

Q16. Which statement about institutionalization in organizations is most accurate?
a. it describes how subunits with expertise gain power in organizations
b. it makes it easier for organizations to adapt to a changing environment
c. it describes how people use power to gain more power
d. it demonstrates why political tactics are unnecessary to maintain power

Q17. Which of the following usually includes a mix of formal training and learning from experience working on management projects?
a. mentoring
b. job rotation programs
c. action learning
d. behavior modeling

Q18. What training method is most useful for improving interpersonal skills?
a. computer simulations
b. behavior role modeling
c. large scale simulations
d. analysis of short cases

Q19. Which of the following was not recommended for effective training?
a. use concrete examples, diagrams, and mnemonics in explanations
b. relate training objectives to the person's interests and career ambitions
c. integrate complex material into longer learning modules
d. allow ample opportunity for practice with feedback

Q20. Which developmental method is most useful for helping managers to understand their inner feelings and values?
a. outdoor challenge programs
b. personal growth programs
c. mentoring programs
d. multisource feedback workshops