JIT, TQM, ABM, and TOC All Make a Contribution to Continuous

question 29

True/False

JIT, TQM, ABM, and TOC all make a contribution to continuous improvement and are applicable in service businesses as well as in manufacturing and retail businesses.

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Definitions:

Compensating Balance

A minimum bank account balance a borrower must maintain as part of a loan agreement.

Effective Annual Interest Rate

The real return on a savings account or any interest-bearing investment, taking into account the effect of compounding interest.

Interest Rate

The proportion of a loan charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding.

Short-term Investments

Assets intended to be converted into cash or sold within a year.