Question 1(2 points)

The process by which an organization influences its subunits and members to behave in ways that lead to the attainment of organizational goals and objectives.

Question 1 options:

Planning

Leading

Organizing

Controlling

Question 2(2 points)

The four steps of control include all of the following, EXCEPT:

Question 2 options:

Establish standards

Measure performance

Take corrective action as needed.

Revisit process every 3 months

Question 3(2 points)

The non-profit status of many organizations allows for relaxed control standards

Question 3 options:

TrueFalse

Question 4(2 points)

Which of the following is NOT cited as a potential area of cost due to inadequate control?

Question 4 options:

Damage to culture and reputation

Botched Implementation

Finance

Impaired Competitor Relations

Question 5(2 points)

Which of the following is NOT cited as a potential benefit of proper control?

Question 5 options:

Improved Productivity

Increased Uncertainty

Improved Quality

Improved Decision Making

Question 6(2 points)

According to your reading, which level of control can be likened to "steering the ship"?

Question 6 options:

Operating

Contingency

Tactical

Strategic

Question 7(2 points)

Which type of control can identify and avoid problems?

Question 7 options:

Concurrent

Feed-forward

Feedback

Real-time

Question 8(2 points)

Which type of control is the least proactive, but still has great value to the organization?

Question 8 options:

Real-time

Feed-forward

Concurrent

Feedback

Question 9(2 points)

Examines the relationship between specific figures on the financial statements and helps explain the significance of those figures:

Question 9 options:

Conciliation

Journalizing

Internal Auditing

Financial Ratio Analysis

Question 10(2 points)

Which financial statement was NOT discussed in your reading?

Question 10 options:

Cash Flow Statement

Balance Sheet

Income (Profit and Loss) Statement

Concurrent Inventory Valuation (CIV)