The Set of International Quality-Management Standards, Which Provide Guidance and Tools

question 60

Multiple Choice

The set of international quality-management standards, which provide guidance and tools for organizations that want to ensure quality outputs of goods and services, is referred to as:

• A) ISO 14000.
• B) International Financial Reporting Standard (IFRS) No. 14000.
• C) International Financial Reporting Standard (IFRS) No. 9000.
• D) ISO 9000.
• E) Securities and Exchange Commission (SEC) Release 20-F.

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Definitions:

Profit Centers

Parts of an organization that directly contribute to its profit through their operations and are responsible for their own revenues and costs.

Decentralized Operations

A management structure where decision-making and operations are distributed among various autonomous units or departments within an organization.

Profitability

A measure of the efficiency and effectiveness of a company in generating profit relative to its revenue or investments over a specific period.

Manager

An individual responsible for controlling or administering an organization or group of staff.