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Controlling Test - 9

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Controlling Test - 9
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Weekly Quiz Competition
  • Question 1
    1 / -0
    MBO approach is _______.
    Solution

    Management by objectives is a way of managerial control where management of people and work is done by keeping in mind the objectives of the business and preparing controlling analysis from time to time to judge the accuracy of the initially set standards. In such a process, the employees prepare their own performance appraisal to match it with the standards set by their supervisors. Therefore, management by objectives is democratic. 

  • Question 2
    1 / -0
    The final step of the control process is _______
    Solution
    The final step of control process is correction of deviations as to improve the performance so that in future it matches with the plan. Sometimes the plans or strategies have to be redesign if they are overstated or not matching with the present day business environment. 
  • Question 3
    1 / -0
    _____________is a process which verifies whether everything occurs in the organization according to plans.
    Solution
    Controlling is one of the important functions of a manager. In order to seek planned results from the subordinates, a manager needs to exercise effective control over the activities of the subordinates. In other words, controlling means ensuring that activities in an organisation are performed as per the plans.
  • Question 4
    1 / -0
    The process of control consists of _________________.
    Solution
    Controlling refers to the comparison between the actual performance and the planned performance which was initially set up so that corrective measures can be taken in case of any deviations or difference to avoid such deviations in affecting the planned performance. 
  • Question 5
    1 / -0
    The employees are required at times to set their own performance standards or arrive at a consensus regarding the standards with their supervisors under ________.
    Solution
    Management by objectives is a way of managerial control where management of people and work is done by keeping in mind the objectives of the business and preparing controlling analysis from time to time to judge the accuracy of the initially set standards. In such a process, the employees prepare their own performance appraisal to match it with the standards set by their supervisors. 
  • Question 6
    1 / -0
    Techniques of managerial control are useful in __________.
    Solution

    Management by objectives is a way of managerial control where management of people and work is done by keeping in mind the objectives of the business and preparing controlling analysis from time to time to judge the accuracy of the initially set standards. Such techniques of managerial control are very useful in profit planning as they judge the accuracy of the plan from time to time. 

    Hence, option (C) is the correct answer.

  • Question 7
    1 / -0
    Controlling is ______.
    Solution
    Controlling is looking back as it is like a post mortem of past activities to find out deviations from the standards established. The objective of controlling is to check the factors responsible for poor performance in the past, so that such mistakes are not repeated in future and the organisation can achieve its predetermined objectives. 
  • Question 8
    1 / -0
    Which of the following is not an accounting function?
    Solution
    The finance department of a business takes responsibility for organizing the financial and accounting affairs including the preparation and presentation of appropriate accounts and the provision of financial information for managers. The main areas covered by the financial department include preparation of balance sheet,  providing management advice, etc. The arranging of finance is a financial service, not an accounting function.
    Hence, option B is correct.
  • Question 9
    1 / -0
    Which of the following is not applicable to responsibility accounting?
    Solution
    Accounting centre is not a part of responsibility accounting. Responsibility accounting basically refers to a system in which different divisions of the organisation are established as responsibility centres.
  • Question 10
    1 / -0
    ______ means correctness or exactness or perfection in dealing with work.
    Solution
    Accuracy means correctness or exactness or perfection in dealing with work. Accuracy is of utmost importance to do any work.
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