Management 1310 Ch. 19 (Dickens)

Which of the following includes anticipated and actual expenses for a responsibility center?
Expense budget
Which of the following refers to funding activities with borrowed money?
Leverage
Which quality control technique uses a five-step methodology to define, measure, analyze, improve, and control processes, otherwise referred to as DMAIC?
Six Sigma
_____ standards represent an international standard for quality management.
ISO 9000
A group of 6 to 12 volunteer employees who meet regularly to discuss and solve problems affecting their common work activities is a _____.
quality circle
Which of the following is a control system that measures performance in terms of after-tax profits minus the cost of capital invested in tangible assets?
Economic value-added system
Which of the following is considered a leverage ratio?
Debt ratio
Which of the following is the process of measuring your organizational process against the best in the industry?
Benchmarking
The _____ is purchase orders divided by customer inquiries.
conversion ratio
Which of the following is a comprehensive management control system that balances traditional financial measures with operational measures relating to a company’s critical success factors?
Balanced scorecard
_____ is a control system that identifies the various activities needed to produce a product and determines the cost of those activities.
Activity-based costing
An advantage of the bottom-up budgeting process is:
lower managers are more involved.
Which of these is a financial budget that estimates cash flows on a daily basis or weekly basis to ensure that the company can meet its obligations?
Cash budget
The goal of _____ is to get every employee thinking and acting like a business owner.
open-book management
What is the first step in the feedback control system?
Establishing standards of performance
All of the following are key steps of setting up feedback control systems EXCEPT:
getting employee opinions.
All well-designed control systems involve the use of _____ to determine whether performance meets established standards.
feedback
_____ control is the process of setting targets for an organizations expenditures.
Budgetary