What are the two core principles of TQM? Explain the assumptions underlying each.
What will be an ideal response?
The two core principles are people and improvement orientations.
People orientation: Delivering customer value is most important; people will focus on quality if given empowerment; and TQM requires training, teamwork, and cross-functional efforts.
Improvement orientation: It's less expensive to do it right the first time; it's better to do small improvements all the time; accurate standards must be followed to eliminate small variations; and there must be strong commitment from top management.
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How does the modified T-account close differ from the T-account close?
What will be an ideal response?
________ pricing occurs when a seller states prices or price savings that mislead consumers or are not actually available to consumers
A) Predatory B) Psychological C) Deceptive D) Cost-plus E) Allowance
Andrea has been reading about psychological capital. Which of the following can she expect through implementing an effective psychological capital training program?
A. reduced performance B. lower satisfaction. C. empowerment and engagement D. improved work-life balance
Badger Corporation purchased a machine for $132,000 on January 1 . 2011, and depreciated it by the straight-line method using an estimated useful life of eight years with no salvage value. On January 1 . 2014, Badger determined that the machine had a useful life of six years from the date of acquisition and will have a salvage value of $12,000 . A change in estimate was made in 2014 to reflect
these additional data. What amount should Badger record as the balance of the accumulated depreciation account for this machine at December 31 . 2014? a. $73,000 b. $77,000 c. $61,250 d. $63,600