TQM Is Committed to

question 24

Multiple Choice

TQM is committed to

• A) quality/excellence.
• B) improved communication.
• C) culture compatibility.
• D) mass customization.
• E) modular manufacturing.

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Definitions:

Fair Value Increment

The increase in the fair value of an asset over its previous book value, often recognized in the course of business combinations or revaluations.

Capital Assets

Long-term assets acquired or owned by a company that are used in its operations to generate income.

Consolidated Financial Statements

Financial statements that show the financial position, results of operations, and cash flows of a parent company and its subsidiaries as a single economic entity.

Direct Method

a way of preparing the cash flow statement where actual cash flows from operating activities are reported rather than adjusting net income on an accrual basis.