Which of the Following Best Describes Total Quality Management

question 38

Multiple Choice

Which of the following best describes total quality management?

• A) The principle that quality belongs to each person who creates it while performing a job
• B) The consistency of a product's quality from unit to unit
• C) The sum of all activities involved in getting high-quality products into the marketplace
• D) The process by which a company analyzes a competitor's products to identify desirable improvements
• E) A certification program attesting that an operations process has met rigorous requirements

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Definitions:

Net Sales

The revenue from sales transactions after subtracting returns, allowances for damaged or missing goods, and discounts.

Average Inventory

Calculated by adding the value of the inventory at the beginning and end of a period and dividing by two, reflecting an average amount of inventory held over the period.

Semiannually

Happening biannually or once every six months.

Ending Inventory

The total value of all the goods remaining unsold at the end of an accounting period.