The Malcolm Baldrige National Quality Award Is Given to Organizations

question 67

Multiple Choice

The Malcolm Baldrige National Quality Award is given to organizations that have done which of the following?

• A)Instituted a six-sigma approach to total quality control
• B)Demonstrated a high level of product quality
• C)Demonstrated outstanding quality in their products and processes
• D)Have a world-class quality control function
• E)Most significantly improved their product quality levels

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Definitions:

Cash

Money in the form of currency that is available for immediate use by a company for transactions, payments, and other financial activities.

T-Account

A visual representation used in accounting to depict the debit and credit sides of individual accounts.

Debit

A debit is an accounting entry that increases an asset or expense account, or decreases a liability or equity account, and is reflected on the left-hand side of an accounting ledger.

Liability Accounts

Accounts on a company's balance sheet that represent amounts owed to creditors, including loans, accounts payable, and other financial obligations.