Which One of the Following Statements About Total Quality Management

question 31

Multiple Choice

Which one of the following statements about total quality management (TQM) is false?

• A) TQM aims at instilling enthusiasm and commitment to doing things right from the top to the bottom of the organization.
• B) TQM produces significant results very quickly,with very little benefit emerging after the first six months.
• C) TQM doctrine preaches that there's no such thing as "good enough" and that everyone has a responsibility to participate in continuous improvement.
• D) Effective use of TQM entails creating a corporate culture bent on continuously improving the performance of every task and every value chain activity.
• E) Total quality management (TQM)is a philosophy of managing a set of business practices that emphasizes continuous improvement in all phases of operations,100 percent accuracy in performing tasks,involvement and empowerment of employees at all levels,team-based work design,benchmarking,and total customer satisfaction.

Understand the two-transaction approach as supported by IFRS for foreign currency transactions.

Learn how to calculate and report exchange gains or losses according to the two-transaction theory.

Identify and calculate the premium or discount on forward exchange contracts.

Understand how to account for and report monetary and non-monetary items in foreign currency transactions.