Concept Introduction:
TQM:
TQM stands for total quality management. TQM focuses on the overall quality of the product. It focuses on providing high product to the customers with the least defect possible. So that the confidence of the customers over the company and the product can be gained, that will overall benefit the business.
E-Commerce:
E-Commerce can be defined as the business done through internet i.e. goods are purchased and sold, services are provided through internet all over the world.
Triple Bottom Line:
Triple Bottom Line can be defined as the concept which focuses on including social and environmental factors to be considered along with the economic factors of the business, thus, it is termed as triple bottom line.
ERP (Enterprise Resource Planning):
ERPs are the software programmes designed as per the needs and the requirements of the business. It can be defined as a programme that combines all the operational activities and coordinate all of them together.
JIT (Just In Time):
JIT can be defined as the concept which focuses on the keeping only required amount of inventory as per the current demand.
To match:
Definitions:
1. A philosophy designed to integrate all organizational areas in order to provide customers with superior products and services while meeting organizational objectives. Require improving quality and eliminating defects and waste.
2. Use of the internet for business functions such as sales and customers service. Enables companies to reach customers around the world.
3. Evaluating a company’s performance by its economic, social and environmental impact.
4. Software System that integrates all of a company’s functions, departments, and data into a single system.
5. A System in which a company produces products just when they are needed to satisfy needs. Suppliers deliver materials when they are needed to begin production, and finished units are completed at the right time for delivery to customers.
With terms:
a. ERP
b. JIT
c. E-commerce
d. TQM
e. Triple Bottom Line.
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Chapter 18 Solutions
Horngren's Accounting (11th Edition)
- Accounting Cycle Review 15 a-e Carla Vista Corporation's trial balance at December 31, 2020, is presented below. All 2020 transactions have been recorded except for the items described below. Debit Credit Cash Accounts Receivable Inventory $27,400 59,000 22,600 Land 62,900 Buildings 96,900 Equipment 42,000 Allowance for Doubtful Accounts $430 Accumulated Depreciation-Buildings 30,500 Accumulated Depreciation-Equipment 15,000 Accounts Payable 19,300 Interest Payable -0- Dividends Payable Unearned Rent Revenue -0- 8,800 Bonds Payable (10%) 54,000 Common Stock ($10 par) 34,000 Paid-in Capital in Excess of Par-Common Stock 6,800 Preferred Stock ($20 par) -0- Paid-in Capital in Excess of Par-Preferred -0- Stock Retained Earnings 72,970 Treasury Stock -0- Cash Dividends Sales Revenue Rent Revenue Bad Debt Expense Interest Expense Cost of Goods Sold Depreciation Expense Other Operating Expenses Salaries and Wages Expense -0- 576,000 -0- -0- -0- 404,000 -0- 39,900 63,100 Total Unrecorded…arrow_forwardCan you please give me correct answer this general accounting question?arrow_forwardDo fast answer of this general accounting questionarrow_forward
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