Quality & Business Acumen Practice Test 2 Part B

Front

The term "bottom line" refers to...

Back

Net Profit

Front

All businesses are successful because the owners want it to succeed and put their effort and capital into it. True or False?

Back

False

Front

Competition in business is bad for the consumer since it drives down the quality of goods for the same price. True or False?

Back

False

Front

Reports a company’s financial standing for a moment in time

Back

Balance sheet

Front

Calculate the Future Value for the following investment: $12,000 invested over four years in an account that yields 4% interest per year. A = P(1+rt)

Back

$13,920

Front

Quality is a major component in analyzing the cost of production

Back

True

Front

Which does M stand for in the DMAIC acronym?

Back

Measure, measures

Front

The number of defects per million units produced for six-sigma is LESS THAN...

Back

10, 10.0

Front

Properties associated with a LEAN production cell: 5S, TQM (Total Quality Manufacturing), TPD (Total Preventative Maintenance), SPC (Statistical Process Control), Six-Sigma

Back

5S

Front

Increased unit costs due to lower quality yields is a result of poor quality.

Back

True