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Total Quality Management (TQM)emphasizes Finding and Correcting Mistakes,so That the Entire

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Total quality management (TQM)emphasizes finding and correcting mistakes,so that the entire organization excels in all dimensions of products and services that are important to the customer.


Definitions:

Creditors' Risk

The risk to lenders that a borrower will not repay a loan or other credit extended, potentially leading to financial loss.

Liabilities

Economic dues a company is obligated to clear with others, which involves dispensing economic benefits progressively over time.

Stockholder's Equity

Ownership interest represented by what remains of a company's assets once all liabilities have been deducted.

Assets

Resources owned by a business that have economic value and can be used to meet debts or generate income.

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