Controlling Test

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Controlling Test - 15

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Question 1
1 / -0

Arrange the process of control in proper form.
(1) Follow through
(2) Establishment of goals and standards
(3) Corrective action
(4) Measurement of actual performance

Select the correct answer from the option given below.

A
(4), (2), (3), (1)

B
(2), (3), (4), (1)

C
(4), (1), (3), (2)

D
(2), (4), (3), (1)

Solution

Controlling refers to the comparison between the actual performance and the planned performance so that corrective measures can be taken in case of any deviations or difference. The process of controlling is as follow

(1) Establishment of goals and standards
(2) Measurement of actual performance
(3) Corrective action
(4) Follow through
Question 2
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Which of the following is / are traditional control device(s) of control system?

A
Management audit

B
Budgetary control

C
Programme evaluation & review technique

D
All of above

Solution

Budgetary controlling refers to the comparison between the actual expenditure and the planned expenditure so that corrective measures can be taken in case of any deviations or differences. It aims at preparing the financial policy of a particular period and planning in advance regarding the expenditures of a company.
Hence, option (B) is the correct answer.
Question 3
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Which of the following is / are traditional control device(s) of control system?

A
Financial ratio analysis

B
Critical path method

C
PERT

D
All of above

Solution

Controlling refers to the comparison between the actual performance and the planned performance so that corrective measures can be taken in case of any deviations or differences.
Financial ratio analysis is a traditional control device of the control system where the actual financial variables are compared with the planned financial variables and corrective measures are taken in case of any deviations.
Hence, option (A) is the correct answer.
Question 4
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What is the importance of control?

A
Ensures efficient use of scarce and valuable resources:

B
Facilitates co-ordination

C
Fosters organizational efficiency and effectiveness

D
All of above

Solution

Controlling refers to the comparison between the actual performance and the planned performance so that corrective measures can be taken in case of any deviations or difference. The main objectives of controlling areas are:

1. Making efficient use of scarce and valuable resources

2. Helps in achieving organisational objectives

3. Fosters organizational efficiency and effectiveness

4. Facilitate coordination in action.
Question 5
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Which of the following is / are traditional control device(s) of control system?

A
Standard costing

B
Statistical control

C
Budgetary control

D
All of above
Solution
Controlling refers to the comparison between the actual performance and the planned performance so that corrective measures can be taken in case of any deviations or differences.
The traditional device of controlling device of a control system includes
Standard costing which refers to the comparison between the actual standard cost and the planned standard cost of the business so that corrective measures can be taken in case of any deviations or difference.
Statistical Control where statistical measures are taken to control the deviations if any.
Budgetary controlling refers to the comparison between the actual expenditure and the planned expenditure so that corrective measures can be taken in case of any deviations or differences. It aims at preparing the financial policy of a particular period and planning in advance regarding the expenditures of a company.
Hence, option (D) is the correct answer.
Question 6
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Which of the following is the third step in the process of control?

A
Establishment of goals and standards

B
Measurement of actual performance against standards

C
Comparison of actual performance with the standards

D
Corrective action

Solution

Controlling refers to the comparison between the actual performance and the planned performance so that corrective measures can be taken in case of any deviations or difference. The process of controlling is as follow

(1) Establishment of goals and standards
(2) Measurement of actual performance

(3) Comparison of the actual performance with the planned ones

(4) Corrective action

(5) Follow through
Question 7
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It is instantaneous, self-correcting and forward-looking _________.

A
Ideal control

B
Ideal planning

C
Ideal co-ordination

D
None of the above

Solution

Controlling refers to the comparison between the actual performance and the planned performance so that corrective measures can be taken in case of any deviations or difference. Controlling is a managerial function that follows every other function as it is the controlling function that make sure that every other managerial function is achieved efficiently. Therefore, ideal controlling is forward looking as it ensures efficiency in future course of actions through past experiences of the organisation.
Question 8
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Which of the following is / are non-traditional control device(s) of control system?

A
CPM

B
PERT

C
BEP

D
Both (A) & (B)

Solution

The various techniques of managerial control may be classified into two broad categories: traditional techniques, and modern techniques.
Traditional techniques include: (a) Personal observation (b) Statistical reports (c) Break-even analysis (d) Budgetary control
Modern techniques (non-traditional) include: (a) Return on investment (b) Ratio analysis (c) Responsibility accounting (d) Management audit (e) PERT and CPM (f) Management information system
Question 9
1 / -0

Which of the following is / are non - traditional control device(s) of control system?

A
Break - even analysis

B
Network analysis

C
Financial ratio analysis

D
All of above

Solution

Controlling refers to the comparison between the actual performance and the planned performance so that corrective measures can be taken in case of any deviations or differences.
Network analysis is a type of non-traditional control device of control system where an actual network of business is compared to the planned network of the business and corrective measures are taken in case of any deviations.
Hence, option (B) is the correct answer.
Question 10
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Modern control system is ___________ rather than work or job oriented.

A
Worker - focused

B
Job focused

C
Incentive focused

D
None of the above

Solution

Controlling refers to the comparison between the actual performance and the planned performance so that corrective measures can be taken in case of any deviations or differences. Controlling is a managerial function that follows every other function as it is the controlling function that makes sure that every other managerial function is achieved efficiently. Therefore, the modern control system is work-focused rather than job oriented.
Hence, option (A) is the correct answer.

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Re-Attempt Weekly Quiz Competition

Controlling Test - 15

Result

Controlling Test - 15

Score

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Rank

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SHARING IS CARING

Question 1

(4), (2), (3), (1)

(2), (3), (4), (1)

(4), (1), (3), (2)

(2), (4), (3), (1)

Solution

Question 2

Management audit

Budgetary control

Programme evaluation & review technique

All of above

Solution

Question 3

Financial ratio analysis

Critical path method

PERT

All of above

Solution

Question 4

Ensures efficient use of scarce and valuable resources:

Facilitates co-ordination

Fosters organizational efficiency and effectiveness

All of above

Solution

Question 5

Standard costing

Statistical control

Budgetary control

All of above

Solution

Question 6

Establishment of goals and standards

Measurement of actual performance against standards

Comparison of actual performance with the standards

Corrective action

Solution

Question 7

Ideal control

Ideal planning

Ideal co-ordination

None of the above

Solution

Question 8

CPM

PERT

BEP

Both (A) & (B)

Solution

Question 9

Break - even analysis

Network analysis

Financial ratio analysis

All of above

Solution

Question 10

Worker - focused

Job focused

Incentive focused

None of the above

Solution

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