Management by Exception

question 163

Multiple Choice

Management by exception

• A) is most effective at top levels of management.
• B) can be implemented at each level of responsibility within an organization.
• C) can only be applied when comparing actual results with the master budget.
• D) is the opposite of goal congruence.

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Definitions:

Continuous Improvement

An ongoing effort to enhance products, services, or processes by making incremental improvements over time.

Lean Business Model

A strategic approach focused on maximizing customer value while minimizing waste, improving overall efficiency.

Management Practices

The strategies, methods, and techniques used by managers to administer, direct, and control business operations.

Management Accounting Information

Data used by managers to make decisions regarding the daily operations of a company, including budgeting, forecasting, and performance evaluation.