Continuous Quality Improvement Is

question 17

Multiple Choice

Continuous quality improvement is:

• A)a method or technique that has consistently shown superior results through research and experience as compared with other methods and techniques.
• B)the regular use of methods and tools to identify,prevent,and reduce the impact of process failures.
• C)a standard by which something can be measured or compared.
• D)an explanation for an observation that is based on scientific research and can be tested.
• E)All of the above

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Definitions:

Revenue

The total income generated from the sale of goods or services related to a company's primary operations.

Break-Even Point

The stage at which total costs and total revenues are exactly equal, meaning no profit nor loss is being made, having no net effect on the financial position.

Break-Even Volume

The quantity of goods or services sold at which total revenues equal total costs, resulting in neither profit nor loss.

Fixed Costs

Fixed costs refer to the expenses that do not change with the level of production or sales, such as rent, salaries, and insurance.