Simtec Believes in Supplying the Highest Quality in Engineering Equipment

question 91

Multiple Choice

Simtec believes in supplying the highest quality in engineering equipment and controls.To make sure that its products fit the needs of its consumers,it goes into the field to examine consumer needs and to see exactly how consumers use equipment to solve problems.With respect to practice in TQM,Simtec is following a practice called ________.

• A) going to the mat
• B) going to the gemba
• C) going to the root of the problem
• D) going to the experts

Recognize the potential for external suggestions to influence memory recall accuracy.

Become familiar with effective study methods and their application.

Understand the definition, purpose, and types of commingled funds, mutual funds, and REITs.

Recognize the benefits of mutual funds for shareholders including diversification, professional management, and administrative services.

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Definitions:

Budgeted Cash Disbursements

An estimate of all cash payments that a business plans to make over a specific period, including operating expenses and capital expenditures.

Activity-Based Costing

A costing method that assigns costs to products or services based on the activities they require, aiming to more accurately reflect the costs incurred.

Manufacturing Costs

Expenses related to the production of goods, including direct materials, direct labor, and manufacturing overhead.

Product Costs

All costs that are involved in acquiring or making a product. In the case of manufactured goods, these costs consist of direct materials, direct labor, and manufacturing overhead. Also see Inventoriable costs.