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Exam 24: Responsibility Accounting and Performance Evaluation

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Question 91

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The balanced scorecard is a performance evaluation system that requires management to consider financial measures of performance,but not nonfinancial measures.

A) True
B) False

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Question 92

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Which of the following can increase a company's return on investment?

A) decrease in operating income
B) decrease in total assets
C) decrease in asset turnover ratio
D) decrease in residual income

E) B) and C)
F) A) and B)

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Question 93

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Which of the following is a key performance indicator of the financial perspective in a balanced scorecard?

Which of the following is most likely to appear on the responsibility report for a manufacturing production supervisor?

An effective performance evaluation system will ________.

The level of employee satisfaction is a key performance indicator of the ________ perspective of a balanced scorecard.

State the strategy for each of the perspectives of the balanced scorecard.

In a decentralized company,segment managers may not fully understand the big picture when making decisions.

Divine,Inc.sells cosmetic products in the United States.Which one of the following is most likely to be a cost center for Divine?

List the primary goals of performance evaluation systems.

Trendables,a manufacturer of electronic jewelry,had the following results from its Subunit W: Requirements: 1.Complete the performance evaluation report for this subunit (round to two decimal places). 2.Based on the data presented and your knowledge of the company,what type of responsibility center is this subunit? 3.Which items should be investigated if management's decision criteria is to investigate all variances equal to or exceeding $10,000 and 10% (both criteria must be met)? 4.Is it possible that the variances are due to a higher-than-expected sales volume? 5.Which balanced scorecard perspective is being addressed by this performance report? Is it a lead or lag indicator?

Dantone,Inc.provides the following information: Calculate the return on investment.

Which of the following affects the company's ability to make on-time deliveries?

The primary objective in setting transfer prices is to ________.

The balanced scorecard focuses only on lead indicators,because lag indicators are not important for performance evaluation.

In a ________,the manager is responsible for generating revenues and controlling costs.

A unique factor of responsibility accounting performance reports is the focus on responsibility and controllability.

In an investment center,the manager is primarily responsible for ________.

Which responsibility center managers are responsible for both generating revenue and either controlling costs or efficiently managing invested capital?

Cost center responsibility reports typically focus on the flexible budget variance.