Quality Is

question 66

Multiple Choice

Quality is

• A) the features of a product or service that ultimately satisfy the needs of customers.
• B) defined by The American Society for Quality.
• C) an all encompassing management approach to providing excellent products and service.
• D) a cornerstone of the national ISO 9000 process.

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Definitions:

Current Liabilities

Financial obligations or debts of a business that are due to be settled within one year from the balance sheet date.

Net Monetary Assets

The difference between monetary assets and monetary liabilities, used to assess liquidity position.

Exchange Gain

The profit realized from the sale of securities or foreign exchange transactions when the exchange rate moves in a favorable direction.

Functional Currency

The primary currency used by a business or unit in its financial transactions, reflecting the economic environment in which it primarily operates.