Finance Management and Control System MCQs
Finance Management and Control System MCQs
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1: A budget planned quantitative allocation of resources for _____activities?
A. Specific
B. Particular
C. Ambiguous
D. None of these
2: A Capital Expenditures Budget projection of all planned major asset_______?
A. Investments
B. Contribution
C. Portfolio
D. None of these
3: The coaching process of giving motivational feedback does not maintain and improve performance?
A. True
B. False
4: Action taken to ensure that standards are met as inputs are transformed into outputs is known as ?
A. Concurrent Control
B. Coaching
C. Control Frequency
D. Control Systems Process
5: The rate of repetition—constant,______, or occasional—of measures taken to control performance.
A. Periodic
B. Occasional
C. Perpetual
D. Irregular
6: Control Systems Process include?
A. Set objectives and standards
B. measure performance and correct or reinforce.
C. Compare performance to standards
D. All of these
7: The large number of areas in which satisfactory results will ensure successful performance, achieving the objective/standard is known as critical success factors ?
A. True
B. False
8: Damage Control Action taken to minimize negative impacts on customers/stakeholders due to faulty inputs ?
A. True
B. False
9: Corrective action to get employees to meet standards and standing plans is known as ?
A. Discipline
B. Punish
C. Chastise
D. Misbehavior
10: A EAP benefit program staffed by people who do not help employees get professional assistance in their problems.
A. True
B. False
11: Financial Statements consist of?
A. income statement
B. balance sheet
C. cash flow statement
D. All of these
12: Management Audit is Analysis of the organization’s ?
A. Planning
B. Organizing
C. Leading and controlling
D. All of these
13: Management by Walking Around or MBWA is a type of supervision which has _____ major activities.
A. Three
B. Four
C. Two
D. seven
14: Management Counseling is a process of giving employees ___so they realize that a problem is affecting their job performance and referring employees with problems to the employee assistance program?
A. Feedback
B. Response
C. Comeback
D. None of these
15: The revenue and expense budgets are known as ?
A. Operating Budgets
B. Functioning Budgets
C. Managing Budgets
D. None of these
16: Action designed to anticipate and prevent possible problems is known as ?
A. Preliminary Control
B. Rework Control
C. first and foremost
D. None of these
17: Rework Control is action taken to fix an input.?
A. True
B. False
18: Standards are measures of performance levels in the areas of?
A. Quantity
B. quality, time,
C. Cost and behavior
D. All of these
19: Which step in the control systems process involves establishing how a job should be performed and in what time frame?
A. set objectives and standards
B. measure performance
C. correct or reinforce
D. compare performance to standards
20: Which activity in management by walking around (MBWA) involves removing stumbling blocks that may prevent employees from improving their performance?
A. disciplining
B. facilitating
C. listening
D. teaching
21: The accounting statement that presents revenue and expenses along with the profit and loss for the stated time period is the ______.
A. balance sheet
B. profit and loss statement
C. income statement
D. cash flow statement
22: The budget used to forecast the total operating spending for the year is ______.
A. revenue budget
B. expense budget
C. operating budget
D. capital expenditures budget
23: The budget used to determine all planned major asset investments is the ______.
A. revenue budget
B. expenses budget
C. operating budget
D. capital expenditures budget
24: Anticipating and preventing problems, ensuring that standards are met, fixing and reworking an output, and minimizing negative impacts to stakeholders are part of ______.
A. the performance success cycle
B. organizational systems control
C. the open-book management style
D. management counseling
25: Which step in the Coaching Model is concerned with making sure employees are doing what you expect, not just what you inspect?
A. describe current performance
B. describe desired performance
C. get a commitment to the change
D. follow-up
26: The limited number of areas in which satisfactory results will ensure successful performance in achieving the objective are called ______.
A. control frequency
B. critical success factors
C. management audit
D. management by walking around
27: The process of giving motivational feedback to maintain and improve performance is ______.
A. management by walking around
B. coaching
C. management counseling
D. disciplining
28: Which control method relies on policies, procedures, and rules that influence employee behavior in predictable situations?
A. self-control
B. clan control
C. standing plans
D. the exception principle
29: Intensity, Integrity, and Intimacy, or the “3 Is” are ______.
A. part of management by walking around
B. a method by which stakeholder complaints are addressed
C. a coaching philosophy
D. part of the progressive discipline model
30: The method of control used for unique or nonrecurring activities is ______.
A. project controls
B. budget
C. the exception principle
D. concurrent control
31: The action taken to fix an output is ______.
A. damage control
B. rework control
C. concurrent control
D. feedback
32: The process to minimize negative impacts on customers/stakeholders due to faulty outputs is ______.
A. damage control
B. rework control
C. concurrent control
D. feedback
33: Think, talk, coach, and assess are part of the ______.
A. performance success cycle
B. control systems process
C. management by walking around approach
D. progressive discipline model
34: A(n) ____ is created to become effective on the death of the grantor.
A. Testamentary trust
B. Contingent beneficiary
C. The probate assets
D. purchase of a vehicle
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