Quality Control

A business measures performance by using this formula:

• Desired performance =actual performance + performance gap

• Performance gap= desired performance -actual performance

• Actual performance= Desired performance + performance gap

• Performance Gap= desired performance +actual performance

The balanced score card focuses on 4 aspects. They are:

• Finance

• Competitors

• Customer

• Learning and development(growth)

• Internal Processes

Continuous skills development is the responsibility of ...

• Management

• Human Resources

• Administration

• Purchasing

The following 2 ratios measure liquidity in a business:

• Current ratio

• Solvency ratio

• Acid test ratio

• Return on Investment

The acceptable ratio for an Acid Test is:

• 2:1

• 4:1

• 1:1

• 10:1

Which ratio can an investor look at when choosing where to invest their money?

• Return on Investment

• Acid Test Ratio

• Solvency Ratio

• Current Ratio

When businesses have too little cash, they have a _______ problem.

• Solvency

• Liquidity

• Financial

• current ratio

The product in the image will be subjected to which quality control process?

• Inspection

• Sampling

• Testing

• TQM

In South Africa the _______ is an example of a commercial standard.

• SABC

• SANDF

• SABS

• SAA

2 advantages of effective performance in the marketing department.

• Maintaining and expanding the customer base

• Cheaper Products

• Creates brand loyalty and customer loyalty

• Better quality products