Home > Cost Accounting > Quizzes > Cost Accounting 101 Practice Test: Strategy, Balanced Scorecard, and Strategic Profitability Analysis
Cost Accounting 101 Practice Test: Strategy, Balanced Scorecard, and Strategic Profitability Analysis
Fast practice, instant feedback. Timer auto-submits when time’s up.
Avg score: 0% • Most missed: “One problem with total factor productivity revolves around which of the followin…”
A strategy is a plan or set of plans to achieve a goal, especially over a long period of time. A balanced scorecard is a strategic planning framework that companies use to prioritize products, services, and projects, and to plan activities and communicate goals. Strategic profitability analysis is a tool to evaluate how well a business generates profit from its strategy.  Here's some more information about each of these concepts: Strategy: A strategy specifies how an organization matches its capabilities with market opportunities to achieve its objectives. Balanced scorecard: A strategic... Show more
Cost Accounting 101 Practice Test: Strategy, Balanced Scorecard, and Strategic Profitability Analysis
Time left 00:00
25 Questions

1. The number of complaints about a product is an example of a balanced-scorecard measure of the:
2. Which of the following statements about productivity measures is FALSE?
3. Overall, was Wingard's strategy successful for 2012?
4. Measures of the balanced scorecard's internal-business-process perspective include:
5. Which strategy is Meale's Corporation pursuing?
6. When analyzing the change in operating income, the strategy component of growth:
7. To further company strategy, measures on the balanced scorecard would most likely include:
8. The revenue effect of growth is calculated by multiplying the difference in units sold (current year minus the previous year) by ________.
9. Different strategies call for different scorecards.
10. A high level of precision between resources used and output produced exists with:
11. Rightsizing is another term for:
12. In general, profit potential ________ with greater competition, stronger potential entrants, products that are similar, and more-demanding customers and suppliers.
13. When analyzing the change in operating income, the strategy component of productivity will increase when:
14. One problem with total factor productivity revolves around which of the following?
15. Which of the following statements is true?
16. Identify the best description of the balanced scorecard's financial perspective. To achieve our firm's vision and strategy:
17. Successful reengineering involves:
18. The balanced scorecard translates an organization's mission and strategy into a set of performance measures that provides the framework for implementing its strategy.
19. The internal business processes perspective of the balanced scorecard comprises three subprocesses that address all of the following EXCEPT:
20. Successful implementation of a product differentiation strategy will result in:
21. Product differentiation is an organization’’s ability to offer products or services perceived by its customers to be superior and unique relative to the products or services of its competitors.
22. ________ translates an organization's mission and strategy into a comprehensive set of performance measures that provide the framework for implementing its strategy.
23. Managers need to evaluate the success of a strategy by:
24. ________ is the fundamental rethinking and redesign of business processes to achieve improvements in critical measures of performance such as cost, quality, service, speed, and customer satisfaction.
25. Manufacturing cycle efficiency is an example of a balanced-scorecard measure of the:

⚡ Recently practiced quizzes in this topic
Live quiz activity
CMA Intermediate Exam: Cost Accounting CMA Foundation Exam: Fundamentals of Costing Practice Test CMA Final Exam: Cost and Management Audit CMA Intermediate Exam: Financial Management Cost Accounting 101 Practice Test: Inventory Management, Just-in-Time, and Simplified Costing Methods Cost Accounting 101 Practice Test: Flexible Budgets, Overhead Cost Variances, and Management Control CMA Intermediate Exam: Financial Accounting Practice Test CMA Foundation Exam: Fundamentals of Ethics Practice Test CMA Foundation Exam: Fundamentals of Management Practice Test CMA Intermediate Exam: Financial Accounting Practice Test 2 (Fill the blanks)
 
❤ If you liked Fatskills, consider supporting us by checking out The Life Manuals You Never Got.

🌈  Our mission is to help improve your scores in any subject and exam withonline quizzes, practice tests, study guides, & advice for students. Since 2018.
About | Explore | User Guide | Topics | Subjects | Doubt Solver | Career Aptitude Test | Answers | Free Tools | OSHA Basics Quiz | What Should We Know?
Privacy | Terms |
Without work one finishes nothing. - Ralph Waldo Emerson
© 2026 Fatskills.com

All trademarks, logos and brand names are the property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, trademarks and brands does not imply endorsement.