a.) A company's balanced scorecard may include

Options:

1. neither nonfinancial nor financial metrics

2. only nonfinancial metrics

3. only financial metrics

4. both nonfinancial and financial metrics

b.) Waterfield Company is looking for a way to help its executive managers assess how its three divisions are meeting the company's goals and objectives for the performance of its purchasing department. Which of the following metrics might be used for this purpose?

Options:

1. the amount of time employees spend in training

2. the material price variance

3. operating income

4. customer satisfaction rating

c.) The primary advantages of the average rate of return method are its ease of computation and the fact that

Options:

1. it is especially useful to managers whose primary concern is liquidity

2. rankings of proposals are necessary

3. it emphasizes the amount of income earned over the life of the proposal

4. there is less possibility of loss from changes in economic conditions and obsolescence when the commitment is short term

d.) When several alternative investment proposals of the same amount are being considered, the one with the largest net present value is the most desirable. If the alternative proposals involve different amounts of investment, it is useful to prepare a relative ranking of the proposals by using a(n) _____ index.

Options:

1. average rate of return

2. price-level

3. present value

4. consumer price

e.) Waterfield Company is looking for a way to help its executive managers assess how the three divisions within the company are meeting the company's overall goals and objectives. The company is looking for a(n)

Options:

1. activity-based accounting system

2. product costing system

3. standard cost system

4. performance measurement system

f.) Which of the following best describes a strategic performance measurement system?

Options:

1. A strategic performance measurement system defines and links strategic objectives to the stock price of a company.

2. A strategic performance measurement system defines and links strategic objectives to the bond rating of the company.

3. A strategic performance measurement system defines and links strategic objectives to the performance metrics of a company.

4. A strategic performance measurement system defines and links strategic objectives to the standard cost system of a company.

g.) What do lean manufacturers demand from their vendors?

Options:

1. all of these choices

2. high-quality materials

3. low-cost materials

4. on-time deliveries

h.) Which of the following is an example of value-added time?

Options:

1. wait time during inspection

2. processing time

3. wait time in inventory

4. none of these choices

i.) Motivated reasoning, surrogation, and common measures bias are three terms describing

Options:

1. cognitive or psychological biases that may impact decision making with the balanced scorecard

2. mission-focused metrics commonly used in the implementation of the balanced scorecard

3. strategic initiatives within the balanced scorecard framework

4. three perspectives of the balanced scorecard