According to the Manufacturing-Based Definition of Quality

question 93

Multiple Choice

According to the manufacturing-based definition of quality:

• A) quality is the degree of excellence at an acceptable price and the control of variability at an acceptable cost.
• B) quality depends on how well the product fits patterns of consumer preferences.
• C) even though quality cannot be defined, you know what it is.
• D) quality is the degree to which a specific product conforms to standards.
• E) quality lies in the eyes of the beholder.

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Definitions:

Mark-up

The amount added to the cost price of goods to cover overhead and profit, determining the selling price.

Deferred Tax Asset

Financial accounting that recognizes reduced income tax in the future due to deductible temporary differences and carryforwards.

Unrealised Profit

Profit that has been generated but not yet realized through a transaction, such as an increase in value of an investment that has not yet been sold for cash.