Quality Control (QC) is a way to be sure that products or services are acceptable to customers.
Quality control is a process wherein companies review the quality of goods and services based on a set of quality standards.
The set quality standards are usually derived from information gathered from clients, customers, and authorized departments on what the quality of goods and services should be.
Products and services which passed quality control ensures that these are acceptable to customers.
The normal procedure under the misstatement of age provision
in regard to the payment of the death claim is that the procedure would be
reduced based on the premium in which whatever it would have been if this has
been purchased at the age of fifty nine years old.
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Answer:
Market Size
Explanation:
Market Size the total market revenue of all market segments combined, not just the revenue of a particular segment.
It can also be said to be the total sales revenue that can be generated in a market by all competitors present therein.
However it is true that as noted in the scenario, in order to truly asses the revenue potential of a particular segment, you have to look at the size of that segment multiplied the average price that consumers in that segment are willing to pay vis-a-vis their customer expectations.
Answer:
$2,000 (Unfavorable)
Explanation:
Given that,
Actual Quantity = 4000 pounds of materials
Actual Rate = $2.20 a pound
Standard Quantity = 3,400 pounds
Standard Rate = $2 per pound
Total Materials price Variance:
= (Actual Quantity × Actual Rate) - (Standard Quantity × Standard Rate)
= (4,000 × $2.20) - (3,400 × $2)
= $8,800 - $6,800
= $2,000 (Unfavorable)
Answer & Explanation:
C. the benefits accrue to politically powerful government officials and their constituents