Benchmarking Is

question 39

Multiple Choice

Benchmarking is:

• A)A system of performance metrics that seeks to motivate suppliers to perform better.
• B)A practice where companies attempt to learn and apply the best practices of other companies.
• C)A system of marking defective inbound inventory so it can quickly be identified for return to the supplier.
• D)A program where suppliers compete for contracts,but those companies who are outbid are provided advice for winning future contracts

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Definitions:

Dependent Child

A child who relies on another person for more than half of their support and qualifies for the potential of tax benefits for the supporting individual.

Full-Time Student

An individual who is enrolled in a post-secondary institution and meets the institution's requirements for full-time status.

Qualified Day Care Center

A facility that meets certain criteria and regulations to provide childcare services, often eligible for specific tax benefits.

EIC Formula

The Earned Income Credit Formula is a method used by the IRS to determine the amount of earned income credit a taxpayer is eligible for, based on income, filing status, and number of qualifying children.