What Is the Quality Loss Function (QLF)

question 92

Essay

What is the quality loss function (QLF)?

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Definitions:

Credit Sales

Transactions where goods or services are sold to a customer with the agreement that payment will be made at a later date.

Zero Balance Accounts

Bank accounts that maintain a balance of zero by automatically transferring funds to cover charges or replenishing from another account.

Concentration Banking

Employing one bank to manage the balances in remote accounts. Balances are generally swept into the concentration bank daily.

Wire Transfers

Electronic transfers of funds across a network administered by banks or transfer service agencies globally.