Quiz-7

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Central Michigan University *

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620

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Economics

Date

Jan 9, 2024

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4

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Question 1 2 out of 2 points An independent business segment where the manager is expected to earn profits appropriate for their level of assets would be an example of which type of responsibility center? Selected Answer: d. Investment center Answers: a. Revenue center b. Cost center c. Profit center d. Investment center Question 2 2 out of 2 points Which performance metric would be most appropriate to evaluate the performance of an investment center manager when the potential for managerial conflicts of interest is high? Selected Answer: a. Residual income (RI) Answers: a. Residual income (RI)
b. Return on investment (ROI) c. Internal rate of return (IRR) d. Net present value (NPV) Question 3 2 out of 2 points What is the general economic rule to set transfer prices? Selected Answer: a. Set the transfer price at the variable production cost plus any opportunity cost of the transfer. Answers: a. Set the transfer price at the variable production cost plus any opportunity cost of the transfer. b. Set the transfer price at the variable production cost. c. Set the transfer price at the market price of the product. d. Set the transfer price at the absorption cost. Question 4 2 out of 2 points
On which section of the statement of cash flows would you find the cash outlay for the purchase of new production equipment? Selected Answer: d. The Investing Activities section Answers: a. The Financing Activities section b. The Operating Activities section c. The Production Activities section d. The Investing Activities section Question 5 2 out of 2 points Which of the following statements about the Balanced Scorecard is true? Selected Answer: b. An effective balanced scorecard will create a strategy map and validate the cause-and-effect relationships between measures in the four perspectives and financial outcomes. Answers: a. The four balanced scorecard ‘perspectives’ used by all companies are the: operational, investing, financing, and customer perspectives. b.
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An effective balanced scorecard will create a strategy map and validate the cause-and-effect relationships between measures in the four perspectives and financial outcomes. c. A balanced scorecard is commonly used to evaluate investment decisions. d. The balanced scorecard for companies in any industry will measure the gross margin ratio (financial), the defect rate (internal), training hours (learning and growth) and customer satisfaction (customer).

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