Which of the Following Is an Example of How Business

question 34

Multiple Choice

Which of the following is an example of how business law guides business conduct?

• A) The law sets rules and penalties to encourage compliance.
• B) The law sets specific codes of ethics to guide conduct.
• C) The law seeks levels of compensation exceeding losses.
• D) The law limits executive compensation to guide conduct.

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Definitions:

Prevention Cost

Expenses incurred to avoid defects in products or services, including costs related to quality training and product design improvements.

Quality Cost Report

A report detailing the costs associated with avoiding poor quality, identifying defects, and repairing defective products, categorized into prevention, appraisal, and failure costs.

Throughput Time

The amount of time it takes for a product to go through the production process, from start to finish, including both processing and waiting time.

Delivery Cycle Time

The total time taken from receiving a customer order to the delivery of the product or service to the customer.