The Model Whose Goal Is to Eliminate Waste While Satisfying

question 163

Multiple Choice

The model whose goal is to eliminate waste while satisfying the customer and providing a positive return to the company is:

• A) Total quality management.
• B) Managerial accounting.
• C) Customer orientation.
• D) Continuous improvement.
• E) Lean business model.

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Definitions:

Commercial Banks

Financial institutions that provide services such as accepting deposits, providing business and personal loans, and offering basic investment products.

Required Reserves

The minimum amount of funds that a bank must hold in reserve against deposit liabilities, as mandated by central banking authorities.

Reserve Bank

A central banking institution responsible for overseeing the monetary policy, issuing currency, and regulating the banking system of a country.

Required Reserve Ratio

The fraction of deposits that a bank is required by regulation to hold in reserve and not lend out, aiming to ensure bank liquidity and stability.