Deming's System of Total Quality Management Seems to Work Well

question 172

Multiple Choice

Deming's system of total quality management seems to work well when it is implemented in conjunction with __________ and __________.

• A) empowerment; narrow spans of control
• B) unity of command; participative management
• C) centralized decision making; participative management
• D) empowerment; participative management
• E) wide spans of control; internal staff units

Understand the importance and roles of internal controls in a company's financial practices.

Recognize the importance of segregation of duties and its impact on preventing fraud and errors in financial statements.

Identify the role and importance of external and internal audits in maintaining financial integrity.

Comprehend the procedures and benefits of using electronic funds transfers for improved cash management.

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Definitions:

Discount Factor

A multiplier used in discounted cash flow (DCF) analysis to determine the present value of future cash flows.

Income Tax Rate

The measure at which income is taxed, affecting both companies and individuals.

Straight-Line Depreciation

Straight-line depreciation is a method to allocate the cost of a tangible asset over its useful lifespan evenly, implying an equal expense rate for each year of the asset's use.

After-Tax Discount Rate

The rate of return or discount rate applied to cash flows after accounting for the tax impact, used in net present value calculations.