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Total Quality Management Centers on New Product and Service Development

question 41

True/False

Total quality management centers on new product and service development as opposed to managing the value chain for existing products.


Definitions:

Compensating Balance

A minimum account balance that a company must maintain as part of an agreement with a lender, often to secure a loan or line of credit.

Cash Balance

The amount of money on hand and available in a company's bank accounts at any given time.

EFT

Electronic Funds Transfer, a system that moves money between accounts electronically.

Bank Reconciliation Process

The act of matching the balances in a company's financial records for a cash account to the corresponding information on a bank statement.

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