Which of the Following Is True About Total Quality Management

question 67

Multiple Choice

Which of the following is true about total quality management?

• A) Output goals and targets should include only numbers.
• B) The number of steps to assemble a product should be increased.
• C) Employees should be asked for suggestions about improvements.
• D) Incentives such as bonus pay and promotional opportunities should be eliminated.
• E) A just-in-case inventory system should be introduced.

Understand the treatment of inventory purchases and costs under different inventory systems.

Identify the legal and accounting treatment of inventory ownership and consignment.

Grasp the differences between various costing methods (absorption, variable) and their impact on financial reporting.

Understand the principles under GAAP regarding inventory costing and the treatment of cost elements.