Simtec Believes in Supplying the Highest Quality in Engineering Equipment

question 14

Multiple Choice

Simtec believes in supplying the highest quality in engineering equipment and controls. To make sure that its products fit the needs of its consumers, it goes into the field to examine consumer needs and to see exactly how consumers use equipment to solve problems. With respect to TQM, Simtec is following a practice called going to the:

• A) mat.
• B) gemba.
• C) root of the problem.
• D) experts.

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Definitions:

Possible Errors

Mistakes or inaccuracies that might occur in the recording or reporting of financial transactions.

Bank Reconciliation

The process of matching and comparing figures from the accounting records against those shown on a bank statement to ensure they are in agreement.

Cash Balance

The amount of cash that a company, individual, or account has available at any given point in time.

Pre-numbered Documents

Documents that are sequentially numbered ahead of time to help ensure completeness and control over processes like inventory, purchasing, and payroll.