Deming Synthesized the Underlying Foundations of the 14 Points of Improving

question 56

Multiple Choice

Deming synthesized the underlying foundations of the 14 Points of improving quality into four simple elements which are called:

• A)basic elements of improvement.
• B)absolutes of quality management.
• C)the four steps to total quality control.
• D)a system of profound knowledge.

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Definitions:

Receivables Period

The average time that it takes for a business to receive payments owed by its customers for goods or services rendered.

Cash Sales Policy

A policy where transactions are only completed with immediate payment of cash, rather than credit or other delayed payment methods.

Cash Receipts

The total amount of money received by a business or organization during a specific period, often documented for accounting purposes.

Cash Management

The practice of managing a company's or individual's cash flow and investments to optimize liquidity and make effective use of cash reserves.