Which of the Following Steps in the Five-Step Chain Reaction

question 66

Multiple Choice

Which of the following steps in the five-step chain reaction, as articulated by Deming with regard to the philosophy underlying total quality management (TQM) , enables a company to achieve a higher market share and raise prices?

• A) Improvement in productivity
• B) Increase in a company's profitability
• C) Higher market shares due to superior quality of products
• D) Reduction of costs due to improved quality
• E) Creation of more jobs

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Definitions:

Bank Statement

A monthly document provided by a bank detailing the account activity, including deposits, withdrawals, and current balance.

Note Receivable

A note receivable is a written promise that indicates another party's obligation to pay a specific sum of money to the holder of the note by a certain date.

Cash Equivalents

Short-term, highly liquid investments that are readily convertible to known amounts of cash and have original maturities of three months or less.

Financial Statements

Reports that summarize the financial performance, position, and cash flows of a business for a specific period.