An all-inclusive definition of quality views it as the ability of products/services to
a. only meet internal design specifications.
b. meet the customer's stated or implied needs.
c. be produced using all value-added production activities.
d. be produced with no rework costs.
B
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Which of the following is true of question formats in questionnaires?
A) Closed-ended questions allow respondents to answer in their own words. B) A scale question is an example of an open-ended question. C) Open-ended questions allow respondents to choose among the best answer options available. D) Closed-ended questions are difficult to evaluate when compared to open-end questions. E) Open-ended questions are useful in exploratory research to find out what people think.
________ are intangible products that we pay for and use but never own
A) Consumer goods B) Services C) Industrial goods D) E-commerce products E) Value products
A company purchased $10,600 of merchandise on January 5 with terms 3/10, n/30. On January 7, it returned $500 worth of merchandise. On January 12, it paid the full amount due. Assuming the company uses a perpetual inventory system, and records purchases using the gross method, the correct journal entry to record the payment on January 12 is:
A. Debit Merchandise Inventory $1900; credit Cash $1900. B. Debit Accounts Payable $10,100; credit Merchandise Inventory, $303; credit Cash $9797. C. Debit Accounts Payable $10,600; credit Cash $10,600. D. Debit Cash $10,100; credit Accounts Payable $10,100. E. Debit Accounts Payable $10,600; credit Merchandise Inventory $318; credit Cash $10,282.
A check is a special type of draft
Indicate whether the statement is true or false