The Baldrige Performance Excellence Program

question 178

Multiple Choice

The Baldrige Performance Excellence Program:

• A) involves a rigorous review process that often helps the companies define what quality means to them, regardless of the outcome.
• B) focuses on large manufacturing companies because of the impact they have on the economy.
• C) is a set of standards governing the requirements for documentation of a quality program.
• D) was devised by the International Organization for Standardization for companies doing business in Europe.

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Definitions:

Adjusted Trial Balance

A financial statement listing all the accounts and their final balances after all adjustments have been made.

Closing Entries

At the end of an accounting cycle, transactions are recorded to shift balances from provisional accounts to lasting accounts.

Post-closing Trial Balance

A summary of all account balances after closing entries are made, used to check the balance of debits and credits.

Adjusted Trial Balance

A list of all accounts and their balances after adjusting entries are made, used in the preparation of financial statements.