What Is the Definition of Quality

question 113

Multiple Choice

What is the definition of quality?

• A) the features and characteristics of a product or service that enable it to satisfy the needs of customers
• B) a series of activities designed to create excellence in a product or service
• C) a special rank designated for manufactured products that have fewer than one defect per hundred
• D) the features of a manufactured product that enable it to satisfy the needs of customers

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Definitions:

Sales Increase

A rise in the quantity or dollar value of a company's products or services sold over a specified period.

Capacity Level

The maximum output a company can produce and sell with its current resources.

Maximum Growth Rate

The highest possible rate at which a company can expand its operations using only internal financing sources, without resorting to borrowing or issuing new equity.

Debt-equity Ratio

A metric that measures a company's financial leverage, calculated by dividing a company’s total liabilities by its shareholder equity.