A Manager of a Small Plumbing Company Is Thinking About

question 5

Multiple Choice

A manager of a small plumbing company is thinking about installing a total quality management (TQM) program. If TQM is installed, the manager should be aware that

• A) costs cannot be allowed to limit quality goals.
• B) quality must become a very important goal of the business.
• C) ISO 9000 will be the controlling criterion.
• D) reengineering is the most direct route to effective TQM.

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Definitions:

Limited Partnership

A business structure where one or more partners have limited liability and are not involved in the day-to-day management, juxtaposed with at least one general partner who has unlimited liability.

RULPA

The Revised Uniform Limited Partnership Act, which is a statute that governs limited partnerships in the states that have enacted it.

Limited Partnership Certificate

A document that formally establishes the existence of a limited partnership and outlines its structure and operating principles.

Capital Contribution

The sum of money or assets that the owners or shareholders provide to a company for its use in business operations.