The total quality management approach recognizes that defects are an inevitable part of mass production, and that the cost of replacing defective goods is just a cost of doing business.
Answer the following statement true (T) or false (F)
False
Total quality management (TQM) first focused on reducing defects in goods produced in factories. Experience has shown that it is less expensive to do something right the first time than it is to pay to do it poorly and then pay again to fix problems.
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Which of the following describes the profit margin ratio?
A) Average total assets divided by net income B) Net income plus income tax expense divided by average total assets C) Average total assets divided by net revenue D) Net income divided by net revenue
Bounded rationality means:
a. Being tied up in confusion b. Not knowing which box to tick c. An organization is bad at decision-making d. That there limits to human ability to make decisions
Which of the following steps should be undertaken while designing a dashboard?
A) using seven or fewer graphs, charts, maps, or tables on one dashboard B) avoiding the use of visual displays that combine real images with data C) using 3D animations and as many other animations as possible to make them interactive D) including intricate graphical tools such as pie charts for all available data
Cash is listed as the first current asset because it is the account:
A) with the most value. B) that is most liquid. C) that is most used. D) that is first alphabetically.