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kaheart [24]
3 years ago
15

The TQM has gone through five stages in its evolution. Discuss the evolution and stages of Total Quality management process

Business
1 answer:
galben [10]3 years ago
4 0

The stages of the Total Quality Management are:

1. Commitment and understanding from employees:

All the employees that work in the organization are supposed to  have an understanding of the TQM policies that makes them a part of the company. They should know the goals and they should be willing to work towards the success of the business.

2. Quality improvement in culture:

The culture in the organization should be a modern one in the sense that it would encourage feedback from the employees. The employees should be listened to and their ideas should be bought.

3. Continuous Improvement:

The TQM is continuous , there has to be continuous and constant improvement in policies and procedures at the management level. Research is also very important

4. Customer requirement:

The customers always require top notch service from the business. It is very important to focus on the needs of the customers. Good customer relationship is needed for survival.

5. Effective control:

There should be evaluations of the business to check performance and also to document progress.

Read more on brainly.com/question/6614341?referrer=searchResults

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Significant noncash investing and financing activities are disclosed because they
Wittaler [7]
D is the most suitable answer
4 0
3 years ago
On April 1, 2021, Parks Co. purchased machinery at a cost of $42,000. The machinery is expected to last 10 years and to have a r
german

Answer:

  • Depreciation for 2021 is $6,300 with book value of the machinery being $35,700.
  • For 2022, Depreciation is $7,140 with book value of $28,560.

Explanation:

The double-declining method is otherwise known as the reducing balance method and is given by the formula below:

Double declining method = 2 X SLDP X BV

SLDP = straight-line depreciation percentage

BV = Book value

SLDP is 100%/10 years = 10%, then 10% multiplied by 2 to give 20%

At Year 2021, 20% X $42,000 = $8,400/yearly

Remember, the machinery was purchased on April 1, 2021, so 9 months depreciation would be accounted for as: 9/12 x $8,400 = $6,300.

So, the book value of the machinery is $42,000 - $6,300 = $35,700 at December 31, 2021

At Year 2022, 20% X $35,700 ($42,000 - $6,300) = $7,140

So, the book value of the machinery is $35,700 - $7,140 = $28,560 at December 31, 2022

Accumulated depreciation expense for Years 2021 to 2022, under this method, is $13,440 (addition of all the yearly depreciation).

8 0
4 years ago
What goals does the international monetary fund serve today?
makvit [3.9K]

The international monetary fund is an organization that is made up of 190 countries whose goals are to build international trade, promote economic development, and reduce poverty in the world.

The International Monetary Fund is a committee of many nations that are committed to developing the economy of their nations.

  • The goal is to reduce poverty and encourage international trade among nations.

  • They assist nations whose economies are struggling with loans that can help them wade through their difficult times.

Summarily, the IMF aims to reduce poverty in the world.

Learn more about IMF here:

brainly.com/question/10346932

8 0
3 years ago
On January 1, 2020, Jacobs Company sells land financed through a $16,000 note, issued by Andress Company. The note is a $16,000,
Vlad [161]

Answer:

Note: <em>See attached picture for journal entry schedule for the question</em>

<em />

Fair Value of Land = -PV(I, N, PMT, FV, Type)

Fair Value of Land = -PV(8%, 2, 16000*4%, 16000, 0)

Fair Value of Land = -PV(8%,2,640,16000,0)

Fair Value of Land = $14,859

                                Journal Entry

Date        Account tile and explanation        Debit       Credit    

Jan. 1       Notes Receivable                           $16,000

                       To, Discount on Notes                             $1,141

                       To, Land                                                    $14,859

Dec. 31    Cash                                                  $640

                Discount on Notes                           $549  

                       To, Interest Revenue (14859*8%)             $1,189

Dec. 31     Cash                                                  $640

                 Discount on Notes                           $593

                        To, Interest Revenue (14859+549)*8%    $1,233

Dec. 31      Cash                                                  $16,000

                         To, Notes Receivable                               $16,000

3 0
3 years ago
Zink Co.’s defined benefit pension plan had plan assets with a fair value of $325,000 at December 31, 2013, and of $375,000 at D
Vadim26 [7]

Answer:

$ 70,000

Explanation:

Beginning plan assets = $ 325,000

Contribution to the plan = $ 130,000

Thus, the total assets available = $ 325,000 + $ 130,000 = $ 455,000.

Now,

The assets distributed = $150,000

Therefore,

the balance left after distribution = total assets available - assets distributed

or

the balance left after distribution = $ 455,000 - $ 150,000 = $ 305,000

Also,

the actual ending balance = $ 375,000

Hence, the difference of the balance left after distribution and the actual ending balance represents the return on plan assets.

therefore,

The return on plan assets = $ 375,000 - $ 305,000 = $ 70,000

8 0
3 years ago
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