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1.
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The balanced scorecard
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  Is an activity-based responsibility accounting model that ensures operating activities
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Is a financial-based responsibility accounting model that focuses on the financial performance of units, rewarding performance with static financial-oriented standards
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Is a strategic-based financial reporting system that balances assets with liabilities and owner's equity
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Is a strategic-based performance management system that identifies objectives and measures from a financial perspective, customer perspective, process perspective, and learning and growth perspective
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2.
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_______________ are outcome measures that are expressed a result of past efforts.
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Objective measures
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External measures
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Financial measures
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Lag measures
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3.
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_______________ are outcome measures that relate to customers.
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Objective measures
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External measures
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Financial measures
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Lag measures
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4.
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Which of the following would be a nonfinancial measure?
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Customer profitability
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Employee capabilities
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Return on investment
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Cost per unit
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5.
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Using the balanced scorecard approach, a company evaluates managerial performance based on
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A single ultimate measure of operating results, such as residual income.
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Multiple dimensions of performance measures.
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Multiple nonfinancial measures only.
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Multiple financial measures only.
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6.
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In the Balanced Scorecard system, core objectives and measures
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Are common across all organizations.
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Are common across all scorecard perspectives.
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Are common across departments.
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None of these are true.
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7.
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From the customer perspective, which of the following might be considered a core objective rather than a performance value?
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Decrease price
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Increase customer retention
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Improve image
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Improve product quality
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8.
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The time it takes to produce one unit of product is called
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Velocity.
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Delivery time.
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Cycle time.
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Turnover.
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9.
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At the beginning of 2x13, Peters Company installed a JIT purchasing and manufacturing system. The following information has been gathered about one of the company's products: Theoretical annual capacity = 2,000; Actual production = 1,800; Production hours available = 500; Actual conversion cost per hour = $7. The theoretical velocity per hour is
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4.0 units.
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3.6 units.
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1.1 units.
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1.0 unit.
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10.
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Harris, Inc. manufactures a product that experiences the following activities: Processing (three departments) = 60 hours; Moving (four moves) = 15 hours; Waiting time = 45 hours; Rework time = 120 hours. The MCE for the product is
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11.
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__________________________ is a diagram that is used to document the primary strategic goals based on the if-then statements developed.
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Decision tree.
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Strategy map.
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Road map.
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Business plan.
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12.
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A manufacturing cell has the theoretical capability of producing 40,000 microchips per quarter. The conversion cost per quarter is $25,000. There are 4,000 production hours available within the cell per quarter. The theoretical cycle time per unit in minutes is
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0.625 minutes.
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6.000 minutes.
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8.400 minutes.
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37.500 minutes.
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13.
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Cycle time and velocity would be a typical measure for which of the following balanced scorecard model?
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Financial
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Customer
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Internal business process
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Learning and growth
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14.
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Which of the following balanced scorecard perspectives essentially asks the question? "Can we continue to improve and create value?"
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Financial
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Customer
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Internal business process
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Learning and growth
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15.
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The case study for the Balanced Scorecard using a corporate steering wheel analogy was:
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