____ Is the Most Basic and Important Tenet of the MBNQA

question 80

Multiple Choice

____ is the most basic and important tenet of the MBNQA criteria.

• A) Continuous improvement
• B) Six Sigma
• C) Statistical process control
• D) Process capability
• E) None of these choices.

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Definitions:

Separate Entity Assumption

Business transactions are separate from the transactions of owners.

Liabilities

Obligations owed by a business to individuals or other entities, ranging from loans and mortgages to accounts payable.

Continuity Assumption

An accounting principle that assumes the business will continue operating indefinitely, not being forced to cease operations or liquidate.

Foreseeable Future

A time period in which an event or action is predicted or expected to occur.