Kim Is Implementing the Concept of Total Quality Management Within

question 70

Multiple Choice

Kim is implementing the concept of total quality management within her company. The results she expects include ________.

• A)a higher standard of products and increased cost savings
• B)higher prices for products due to the extra process involved
• C)a one-time product improvement unlikely to reproduce
• D)a limited presence in the global marketplace

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Definitions:

Dishonored Note

A promissory note that has not been paid by its maker or endorser at the time of maturity.

Selling Receivables

The process of selling a company's accounts receivable to a third party to improve liquidity and reduce the risk of uncollectible debts.

Voucher System

A control mechanism in accounting that requires all company expenditures to be documented with vouchers, supporting the authenticity of transactions.

Accounts Receivable

Outstanding receivables from clients to a business for supplied products or executed services awaiting payment.