Question 4 Which one of the following is a system of control whereby feedback on actual performance, compared with planned performance, allow managers to focus on areas of poor performance? A. Management by budgeting. B. Management by objectives. C. Management by exception. D. Management by control. Question 5 Consider the following two statements concerning the differences between financial and management accounting: 1) Financial accounting reports are often prepared for a specific purpose whereas management accounting reports usually serve a general purpose. 2) Management accounting measures and reports financial as well as other types of information that may be useful to managers in fulfilling the goals of the organisation. Which of the following combinations (true/false) is correct? A. 1 true, 2 false. B. 1 false, 2 true. C. 1 true, 2 true. D. 1 false, 2 false. Question 6 What is a strategy map in the context of the balanced Scorecard? A. A strategy map allows identifying casual links between the four perspectives of the balanced Scorecard. B. A strategy map consists in identifying mission, vision, and values. C. A strategy map consists in a visual representation of the business process. D. A strategy map means agreeing the strategy with the directors of the business