Question

1. Waterfield Company is looking for a way to help its executive managers assess how the three divisions within the company are meeting the company's overall goals and objectives. The company is looking for a(n)

   a. performance measurement system

   b. product costing system

   c. standard cost system

   d. activity-based accounting system

2. Waterfield Company is looking for a way to help its executive managers assess how its three divisions are meeting the company's goals and objectives for financial performance. Which of the following metrics might be used for this purpose?

   a. the amount of time employees spend in training and the number of training sessions provided

   b. the material price variance and the material quantity variance

   c. customer satisfaction rating and the number of customer returns

   d. operating income and cash flows

3. Waterfield Company is looking for a way to help its executive managers assess how its three divisions are meeting the company's goals and objectives for the performance of its purchasing department. Which of the following metrics might be used for this purpose?

   a. customer satisfaction rating

   b. the material price variance

   c. operating income

   d. the amount of time employees spend in training

4. Which of the following best describes a strategic performance measurement system?

   a. A strategic performance measurement system defines and links strategic objectives to the performance metrics of a company.

   b. A strategic performance measurement system defines and links strategic objectives to the stock price of a company.

   c. A strategic performance measurement system defines and links strategic objectives to the bond rating of the company.

   d. A strategic performance measurement system defines and links strategic objectives to the standard cost system of a company.

Answer 1

1. Answer is  a. performance measurement system

2.Answer is a. the amount of time employees spend in training and the number of training sessions provided

3.Answer is b. the material price variance

4.Answer is a. A strategic performance measurement system defines and links strategic objectives to the performance metrics of a company.