A Continuous Quality Improvement Team Has Considered All Aspects of a Decision

question 20

Multiple Choice

A continuous quality improvement team has considered all aspects of a decision to purchase two new computed tomography scanners to meet the needs of the community. The team decides to go with the less expensive, larger machines with few additional capabilities because of current budget restraints, even though it will mean purchasing newer smaller models with more capabilities in the future when moving to a new hospital in 3 years. This decision is known as a(n) _____ decision.

• A) cost-conscious
• B) group
• C) optimizing
• D) satisficing

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Definitions:

Current Ratio

The current ratio is a liquidity ratio that measures a company's ability to cover its short-term obligations with its short-term assets.

Cash

Physical currency owned by a company or individual, including bank notes and coins, often considered the most liquid form of asset.

Stockholders

Individuals or entities that own one or more shares of stock in a corporation, making them partial owners of the company.

Dividend Declaration

The announcement by a company's board of directors of a payment to shareholders, distributed from its earnings.