Deming, Juran, Crosby and Taguchi are among the thought leaders who introduced ideas that fueled the quality revolution. Briefly identify and describe important ideas and concepts that each of these thought leaders contributed
Key concepts to be covered in the response could include, but are not limited to:
Deming - initially asserted that understanding variation was essential to improving quality, then expanded his teachings. His theories were summarized in his "profound knowledge system", where he noted that companies operate as systems, managers need to understand cause-and-effect relationships to predict future behavior, and that leaders need to understand individual motivations and group interactions.
Crosby - Said that quality is meeting rather than exceeding requirements, and that quality should be planned in, by preventing defects the first time, rather than inspected in.
Taguchi - Noted that reducing variation saves money, and that project deliverables will be better with a focus on improving methods.
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Answer the following statement true (T) or false (F)
A company issued 6-year, 8.50% bonds with a par value of $103,000. The market rate when the bonds were issued was 8.00%. The company received $105,417 cash for the bonds. Using the effective interest method, the amount of recorded interest expense for the first semiannual interest period is:
A. $8755.00. B. $4377.50. C. $2188.75. D. $4216.68. E. $8342.87.
After the firm estimates the amount of uncollectible accounts associated with the credit sales of each period, it makes an adjusting entry to debit _____ and credit _____
a. Bad Debt Expense; Accounts Receivable, Net b. Bad Debt Expense; Accounts Receivable, Gross c. Allowance for Uncollectibles; Bad Debt Expense d. Bad Debt Expense; Allowance for Uncollectibles e. Allowance for Uncollectibles; Accounts Receivable, Gross
A shareholder can only submit a resolution to be considered by other shareholders if he or she has one percent or more of the total shares of the company
Indicate whether the statement is true or false