___________ Refers to a Process That Continuously Identifies,understands,and Adapts Outstanding

question 53

Multiple Choice

___________ refers to a process that continuously identifies,understands,and adapts outstanding processes inside and outside an organization.

• A)Environmental scanning
• B)Quality management
• C)Benchmarking
• D)Continuous improvement

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Definitions:

Purchases Journal

A specialized accounting journal used to record the purchasing of goods and services on credit.

Promissory Note

A financial instrument in which the writer promises in writing to pay a determinate sum of money to the payee under specific terms.

Revenue Journal

A specialized accounting journal used to record all incoming revenues and sales transactions of a company.

Cash Receipts Journal

A dedicated accounting journal used to record all cash inflows or money received by a business.