The Emphasis of TQM Is Correction,not Prevention

question 41

True/False

The emphasis of TQM is correction,not prevention.

---

Definitions:

Net Liability Contract Position

The net value of obligations exceeding the value of assets held under a contract, indicating a company's financial liability in the context of that contract.

Exposure Draft

A document issued by regulatory or standard-setting bodies to invite public comment on a proposed new standard or amendment to existing standards before finalization.

Revenue Recognition

Accounting principle determining when revenue should be recorded in the financial statements, typically at the time goods or services are provided.

Book Value

The net value of a company's assets found on its balance sheet, calculated as total assets minus intangible assets and liabilities.