What Is the Value of Total Quality Management (TQM)and How

question 32

Essay

What is the value of total quality management (TQM)and how does it differ from business process reengineering?

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Definitions:

Revenue Account

An account that tracks the income a company generates from its operations or activities.

Chart of Accounts

Chart of Accounts is an organized list of all accounts in a business entity’s financial statements, used for categorizing all financial transactions.

Business's Accounts

Records that summarize a company's financial transactions, including assets, liabilities, revenues, and expenses.

Expense

A cost or charge that is incurred in the process of generating revenue, typically classified on an income statement.