A Quality Circle Is

question 54

Multiple Choice

A quality circle is:

• A) responsible for quality.
• B) total quality control.
• C) an inspection stamp found on meat.
• D) a voluntary group of employees.
• E) a team of customers and their contacts within the company.

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Definitions:

Cost Of Goods Sold

The immediate expenses associated with manufacturing the products a company sells, covering both materials and manpower.

Accounts Payable

Money owed by a business to its suppliers shown as a liability on the company's balance sheet.

Finished Goods Inventory

Products that have been manufactured and are ready for sale, but have not yet been sold to customers.