Inspecting the Attributes of a Finished Product to Determine Whether

question 72

True/False

Inspecting the attributes of a finished product to determine whether the product is acceptable, is in need of rework, or is to be rejected is called after-process quality control.

---

Definitions:

Accounts Receivable

Outstanding payments from clients to a business for goods delivered or services rendered, awaiting settlement.

Accounts Payable

Money owed by a company to its creditors for goods and services that have been delivered or used but not yet paid for.

Accounts Payable

Money owed by a business to its suppliers shown as a liability on the company’s balance sheet.

Net Income

The total earnings or profit of a company after subtracting all expenses, including taxes, interest, and operating expenses, from total revenue.