The philosophy, in which the management works to improve value chain of the products, to exceed customer expectations is classified as ____________?
Correct answer: A. quality
- A. quality
- B. management chain
- C. customer chain
- D. cost chain
Explanation
Quality management focuses on improving processes and the value delivered by products so that customer expectations are met or exceeded. The other choices describe chains or structures rather than this customer-focused philosophy.
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About Cost Accounting
Cost accounting measures and analyses the cost of producing goods or providing services for planning, control and pricing decisions. It covers direct and indirect costs, fixed and variable costs, job and process costing, break-even analysis, marginal costing, overhead allocation, and the difference between product cost and period cost.
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