Performance Refers to Which of the Following

question 15

Multiple Choice

Performance refers to which of the following?

• A) the principle that quality belongs to each person who creates it while performing a job
• B) the consistency of product quality from unit to unit
• C) how well the product does what it is supposed to do
• D) the process by which a company analyzes a competitor's products to identify desirable improvement
• E) providing value by making products available when customers want them

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Definitions:

Profit

The financial gain obtained when the revenue generated from a business activity exceeds the expenses, costs, and taxes associated with it.

Wholesale Price

The cost at which goods are sold to retailers by manufacturers or distributors before any retail markup.

Retail Price

The cost at which an item is sold to the general public by retailers.

Mark-up on Cost

The percent increase applied to the goods' cost price to cover overhead expenses and profit.