Quality does not imply

• Customer satisfaction

• Freedom from Defects

• Fitness for use

• Amount of resource used for the purpose

Which of the following is not an element of Cost of Quality

• Internal failure cost

• Material Cost

• Appraisal Cost

• Prevention Cost

Appraisal cost does not include

• Verification

• Supplier rating

• Quality Audit

• Waste analysis

A method of ensuring that the processes are able to deliver desired quality every time

• Quality

  Assurance

• Quality Circle

• Qaulity control

• Quality system

A processed input with logical meaning is called

• Information

• Data

• Element

• System

Which of the following is not the benefit of MIS

• Creativity in decision making

• Efficient Planning and control

• Highlighting strengths of the organisation

• Reports on resource utilisation

The excess of actual sales over breakeven sales is called

• Contribution

• Margin of safety

• P/V ratio

• Profit

• Actual Sales

• Breakeven Sales

• Margin of Safety

• Profitability

The following is never true for breakeven analysis

• P/V ratio is greater than 1

• Fixed cost is constant

• Variable costs are linearly varying

• Units sold is same as units produced

P/V ratio can be improved by

• Increasing variable cost

• Increasing fixed cost

• Reducing selling price

• Reducing variable cost