Which of the Following Is a Core Value of TQM

question 11

Multiple Choice

Which of the following is a core value of TQM?

• A)Methods are designed to meet the needs of external customers and not internal customers.
• B)A few select employees in an organization are given training in quality.
• C)Processes are designed such that errors are detected and corrected immediately after they occur.
• D)The company promotes cooperation with vendors and customers to hold down costs.
• E)Managers measure progress with feedback based on qualitative observations.

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Definitions:

Fair Value

A measure of the estimated price at which an asset or liability could be traded in a transaction between willing parties, other than in a liquidation sale.

FASB

stands for Financial Accounting Standards Board, an independent organization responsible for establishing accounting and financial reporting standards for companies and nonprofits in the United States.

Orderly Transaction

A financial transaction conducted in an organized manner without urgent pressure from either the buyer or seller, often ensuring fair market values are achieved.

Market Participants

Individuals or entities engaged in buying, selling, or trading securities, commodities, and other financial instruments in financial markets.