Which of the Following Is the Final Result of the Five-Step

question 2

Multiple Choice

Which of the following is the final result of the five-step chain reaction on which the philosophy of the TQM is based?

• A) Better use of time and materials
• B) Increase in profitability
• C) Creation of more jobs
• D) Higher market share
• E) Improvement in productivity

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Definitions:

Usage Of Trade

Any practice or method of dealing having such regularity of observance in a place, vocation, or trade as to justify an expectation that it will be observed with respect to the transaction in question.

Commercial Practices

Activities, methods, and ethics involved in conducting business and trading of goods and services in the marketplace.

Oral Contract

An agreement between parties that is spoken and not memorialized in writing, yet is fully legal and binding.

Received and Accepted

A term indicating that goods or services have been both delivered and acknowledged as meeting the terms of a contract or agreement.