The Quality Equation Is

question 6

Multiple Choice

The quality equation is:

• A) Profits provide for quality inputs
• B) Quality employees produce loyal customers
• C) Quality products result in quality inputs, which result in profits
• D) None of the above.

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Definitions:

Adjusting Entries

Journal entries made at the end of an accounting period to allocate income and expenses to the period in which they actually occurred.

Equity Interest

Ownership interest in a company, usually in the form of stocks, representing a share of the earnings and assets of the business.

Cash Dividend

A payment made by a corporation to its shareholders, usually in the form of cash.

Net Income

The profit a company retains after all financial obligations, like costs and taxes, are subtracted from its total income.