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Business

Accounting

The refers to a measure of acceptable performance established by management a guide in making decisions.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter12: Balanced Scorecard And Other Performance Measures

Section: Chapter Questions

Problem 3MC: Goal congruence in well-designed performance measurement systems best explains a congruence between...

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The refers to a measure of acceptable performance established by management a guide in making decisions.

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Planning

Standards

Variance

Budget

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The managerial decision-making process has which of the following as its third step? A. Review, analyze and evaluate the results of the decision. B. Decide, based upon the analysis, the best course of action. C. Identify alternative courses of action to achieve a goal or solve a problem. D. Perform a comprehensive differential (differential) analysis of potential solutions.
Components of the organization that are demotivating for purposes of performance management are known as ______. A. business goals B. strategic plans C. uncontrollable factors D. incentives
Should an organization focus on controllable or uncontrollable factors to effectively implement a successful performance measurement system? Explain your answer.
When managerial accountants design an evaluation system that is based on criteria for which a manager is responsible, and it is structured to encourage managers to make decisions that will meet the goals of the company as well as their own personal job goals, the framework used is _______. A. a controllable factors framework B. an uncontrollable factors framework C. a strategic plan framework D. a responsibility accounting framework
Explain the components of the total cost equation and describe how each of the components can be used by management for decision-making.
Setting objectives and identifying methods to achieve those objectives is called a. planning. b. decision making. c. controlling. d. performance evaluation. e. None of these.
An effective managerial accounting system should track information about an organizations activities in which of the following areas? a. Development b. Marketing c. Production d. Design e. All of these.
Preparing performance reports that contain data only about items that a specific manager controls is an example of which of the following? A. Financial reporting B. Learning and innovation C. Management by exception D. Responsibility accounting
Which of the following is not a goal of performance evaluation systems? a. Promoting goal congruence and coordination b. Communicating expectations c. Providing feedback d. Reprimanding unit managers
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good performance measurement system will align the goals of management with ________.
Three phases of the management process are controlling, planning, and decision making. Match the following descriptions to the proper phase:Phase of management process DescriptionControlling a. Monitoring the operating results of implemented plans and comparing the actual results with expected results.Planning b. Inherent in planning, directing, controlling, and improving.Decision making c. Long-range courses of action.