Explain the Concept of Total Quality Management

question 82

Essay

Explain the concept of total quality management. How is it different from the quality inspection of a final product just before being packaged?

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Definitions:

Adjusted

Pertaining to alterations made to financial statements or balances to correct them or to reflect changes not captured in the original entries.

Trial Balance

A bookkeeping worksheet that lists the balances of all ledgers in two columns, typically debit and credit, to ensure that the total debits equal the total credits.

Relabeled

This term, in the context provided, is not clearly defined. Without more specific usage, "Relabeled" is typically understood as changing the label or designation of something, but this doesn't have a direct business or finance definition.

Financial Statements

Compiled reports detailing a company's financial status, including balance sheets, income statements, and more.