FREE Financial Management For Project Managers Performance Measurement in Accounting Questions and Answers

Question 1

What can you say about residual income?

Accepted Answer

The amount of money left over after a person's monthly bills are paid.

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Income from testing games

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Income earned in a field that does not require education.

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Income that comes from doing online surveys.

Question 2

How does the creation of wealth relate to residual income?

Accepted Answer

Residual income is earned on a continual basis and is not tied to specific amounts of time.

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Residual income does not create wealth.

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Residual income is paid as a specific amount per hour.

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Residual income is specifically limited to an inheritance.

Question 3

What is one way that musicians might generate ongoing revenue?

Accepted Answer

They record the music once and receive a royalty each time the song is downloaded.

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They must write a new song each time they want to get paid.

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Musicians must play in night clubs or other venues to earn money from their music.

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Most musicians do not become famous until they die.

Question 4

What equation is used to determine the first kind of residual income?

Accepted Answer

Residual Income = Monthly Net Income - Monthly Debts

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Residual Income = All personal debts a person has

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Residual Income = Loan Payments + Interest Income

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Residual Income = Hours Worked * Pay Per Hour

Question 5

Following the completion of a client profitability study,

Accepted Answer

All answers are correct

Answer

Public relations issues

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Institutional change

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Internal resistance

Question 6

An established client is being sold more goods and/or services by .

Accepted Answer

Cross-selling

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Outside sales

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Soft-selling

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Up-selling

Question 7

Some people find it difficult to comprehend how letting a client "leave" when so many organizations concentrate on customer .

Accepted Answer

retention

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service

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attraction

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propsecting

Question 8

A customer profitability study might be advantageous for the entire company because:

Accepted Answer

All answers are correct

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Operations can improve productivity by not having to meet special demands

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Sales can prospect for customers who bring the most value

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Finance doesn't have to offer special terms

Question 9

The balanced scorecard is utilized because...

Accepted Answer

To determine what the business finds important to ensure it reaches its goals.

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To give employees coaching to ensure they will be effective in their jobs.

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To give customers advice to ensure that they buy products that are actually useful to them.

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To provide benefits to employees to ensure they stay with the company for a long time.

Question 10

What can be monitored by a non-profit organization using a balanced scorecard?

Accepted Answer

Supporters

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Extra cash

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Credit offers

Answer

Profit