With the Increasing Focus on Quality,in Today's Global Marketplace,high _____

question 8

Multiple Choice

With the increasing focus on quality,in today's global marketplace,high _____ is considered entry into the game,rather than a source of competitive advantage.

• A)profits
• B)performance
• C)tolerance
• D)conformance

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Definitions:

Commercial Substance

A concept in accounting indicating that a transaction significantly changes the economic situation of a business, justifying a change in the financial statements.

Accumulated Depreciation

The aggregate depreciation charges applied to a fixed asset from when it first came into operation.

Commercial Substance

A concept in accounting that occurs when the future cash flows or the economic circumstances of a transaction change as a result of the transaction.

Disposal

The act of getting rid of an asset through sale, trade, abandonment, or other methods, often resulting in the recognition of a gain or loss for accounting purposes.