What Do We Call the Ability of a Process to Meet

question 83

Multiple Choice

What do we call the ability of a process to meet or exceed the requirements placed on it?

• A)Being in control
• B)Being within tolerances
• C)The stability
• D)The capability

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Definitions:

Recorded

The act of documenting financial transactions in the accounting records or ledgers of a company.

Adjusted Trial Balance

A financial statement that lists all accounts of a company and their balances after adjustments have been made.

Adjusting Entries

Journal entries made in accounting to update the records for revenues and expenses that have accrued but not yet been recorded through standard accounting transactions.

Prepaid Expenses

Costs paid in advance of their use, such as insurance or rent, which are recorded as assets on a balance sheet until they are actually incurred.