The Term Performance Quality Refers To

question 77

Multiple Choice

The term performance quality refers to:

• A)The difference between customer expectations (for attributes,services,functionality,etc. )and product design.
• B)The gap between product design specifications and actual performance of the product.
• C)Customer satisfaction with the total experience of a product or service.
• D)The gap between actual performance of a product and customer expectations.
• E)Costs related to meeting customer demands and expectations.

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Definitions:

Net Income

The remaining revenue after all costs, expenses, and taxes have been subtracted from a company's total revenue; essentially, a company's profit.

Periodic Inventory

An inventory system in which the inventory count is conducted at specific periods, determining the cost of goods sold by beginning inventory plus purchases minus ending inventory.

Merchandise Inventory

Goods a company intends to sell to customers that are stored as inventory.

Purchases

Represents the total amount of goods bought by a business for resale or for use in production.