TQM Focuses on

question 18

Multiple Choice

TQM focuses on

• A)error prevention
• B)profit
• C)error detection
• D)guest's needs

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Definitions:

EAR

Effective Annual Rate, which measures the real return on an investment or the real interest rate on a loan, accounting for the effect of compounding.

Compounded Annually

The process where the interest earned on an investment is added to the principal, and the new total amount earns interest the following year, leading to exponential growth.

Compounded Monthly

Interest calculation method where interest is added to the principal balance each month, and future interest is calculated on the new total.