Managers Who Practice Total Quality Management

question 156

Multiple Choice

Managers who practice total quality management

• A)invest more resources at the front end of the value chain in research and development and design to produce a superior product.
• B)invest more resources in inspecting and repairing products once they are produced.
• C)practice both A and B.
• D)practice neither A nor B.

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Definitions:

Excess Reserves

The funds that banks hold over and above the legally mandated minimum to safeguard bank liquidity, which can also be lent out.

Actual Reserves

The funds that a bank has on hand or deposited with the central bank, available for immediate use.

Net Worth

Assets minus liabilities; also called owners’ equity.

Owners' Equity

The residual interest in the assets of a business after deducting its liabilities, representing the ownership interest of shareholders or proprietors.