Smith Commercial Development has effective control processes, allowing its managers to discover ______ in bookkeeping right away, before a would-be embezzler could seriously affect its business.
A. irregularities and errors
B. a potential merger
C. competence
D. team problems
E. tax breaks
A. irregularities and errors
One reason control is needed is that it helps you to discover irregularities and errors. Cost overruns, manufacturing defects, employee turnover, bookkeeping errors, and customer dissatisfaction may be tolerable in the short run. But in the long run, they can bring about even the downfall of an organization.
You might also like to view...
A structured approach to assessing the sources and outcomes of brand equity and the manner in which marketing activities create the financial worth of the brand is called ________
A) the brand value chain B) the brand portfolio C) the brand life cycle D) brand partitioning E) brand positioning
Which of the following is the correct formula for measuring a cost variance?
A) Cost Variance = (Actual Cost + Standard Cost) / Actual Quantity B) Cost Variance = (Actual Cost - Standard Cost) × Actual Quantity C) Cost Variance = (Actual Cost + Standard Cost) + Actual Quantity D) Cost Variance = (Actual Cost - Standard Cost) - Actual Quantity
Which of the following is a good indicator of management's strong commitment to product quality?
a. Product recalls increased as a percentage of sales b. Nonconformance costs increased as a percentage of total quality costs c. Customer service costs reduced by 70 percent over the previous year d. High costs of conformance to quality
Another name for a team leader is a(n) ______.
a. program manager b. activities leader c. operative supervisor d. project leader