A(n) ____________ is any guideline or benchmark established as a basis for measurement or point of reference.

indication

rule of thumb

estimation

standard

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Question 2 1 pts

The objectives that eventually become the foundation for controls are determined during the ____________ function.

planning

organizing

staffing

leading

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Question 3 1 pts

The amount of output achieved from the use of a given amount of inputs is __________.

productivity.

benchmarking.

performance control.

standardization.

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Question 4 1 pts

The basic types of controls are ____________.

prevention, diagnostic, therapeutic

feedforward, in-process, diagnostic

prevention, feedback, feedforward

feedforward, concurrent, feedback

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Question 5 1 pts

Computer monitoring of customer service telephone calls is an example of which type of control?

feedforward

optional

feedback

concurrent

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Question 6 1 pts

Controls that focus on "after the fact" are called ____________ controls.

diagnostic

feedback

feedforward

therapeutic

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Question 7 1 pts

Resources owned by a business are known as ____________.

assets

returns and allowances

costs

debts

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Question 8 1 pts

Liabilities are financial obligations that are also referred to as ____________.

asset commitments

bad faith situations

current bills

debts

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Question 9 1 pts

The financial difference between the value of an organization's assets and its liabilities is known as ____________.

equity

sales

expenses

total revenue

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Question 10 1 pts

The accounting income statement "equation" is expressed as ____________.

assets + liabilities = equity

income - expenses = profit or loss

revenues - taxes = assets

expenses + debt = equity

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Question 11 1 pts

An organization's current liabilities are $40,000 and current assets are $120,000; therefore, the firm's current ratio is ____________.

4 to 1

3.1 to 1

8 to 1

3 to 1

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Question 12 1 pts

The most important characteristic of organizational information is its ____________.

adaptability

usefulness

understandability

thoroughness

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Question 13 1 pts

The merging of a company's human and technical knowledge assets is known as:

information technology (IT).

management information system (MIS).

knowledge management (KM).

information system (IS).

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Question 14 1 pts

A collection of computerized data that may have privileged access is called a ____________.

managers manual

IS base

database

data collection