TQM and SMT Interventions

question 40

Multiple Choice

TQM and SMT interventions:

• A) Are basically the same thing
• B) Have some significant differences
• C) Quality is the only goal of both interventions
• D) Training of employees for both interventions is exactly the same

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Definitions:

Gross Profit

The difference between sales revenue and the cost of goods sold before deducting overheads, payroll, taxation, and interest.

Operating Expenses

Costs incurred in the normal operations of a business, such as rent, utilities, and payroll.

Net Income

The conclusive financial gain of a company after expenses and taxes have been removed from the initial total revenue.

Merchandising Company

A type of business that purchases goods in a finished condition for resale without further processing.