The Deming Prize for Quality Originated in Japan

question 2

True/False

The Deming Prize for quality originated in Japan.

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Definitions:

Budgeting

The process of creating a plan to spend your money, which involves estimating revenues and expenses over a specified future period.

Fixed Costs

Costs that do not change with the level of output or sales in the short term.

Machine-hours

A measure of production volume or capacity, representing the total hours that machines are operational within a given period.

Power Costs

The expenses associated with the consumption of electricity or other forms of energy used in the production process.