What are Quality Costs? Quality costs are defined as those costs associated with the non- achievement of product/service quality as defined the requirements established the organization and its contracts with customers and society.  Quality cost is comprise of:  Cost of prevention Cost of appraisal Cost of internal failures  Cost of external failure...

What are the legal risks associated with carrying on international business? The competitive risks associated with carrying on business in a foreign market are numerous. For example, understanding the foreign market, communicating in a foreign language, and understanding the competitive environment can be extremely difficult. Important for this chap...

What is Manufacturing Production? Manufacturing production is a strategy that enables manufacturers to achieve maximum efficiency in the manufacturing and production of goods intended for sale. Manufacturing production processes can be broadly classified into three main types (1) Make to Stock (MTS), (2) Make to Order (MTO) and (3) Make to Assemble ...

What is a Public-Private Partnership? Public-private partnerships involve collaboration between a government association or institution and a private-sector firm or company to finance, build, or manage certain projects, such as public transportation networks, parks, and convention centers. Public-private financing makes a projects completion to be f...

What is a Startup Founder?  A startup founder is an individual who establishes a new business. If more than one individual is involved, they are co-founders. There are no hard and fast rules about what name or title the founders can take. Who is a Founder Depends upon Timing Who is considered a founder will depend entirely upon at what point the ind...

What are Countervailing Duties (CVDs)? Countervailing duties, another term for anti-subsidy tax and offset tariff, is a tariff that a Government issues (pursuant to World Trade Organization rules) to offset the benefit that exporters receive from subsidies paid by the foreign government.  The purpose of a foreign subsidy is to give the exporter an a...

What is a Guaranteed Interest Certificate? A guaranteed investment (interest) certificate is a low-risk type of investment with an assured interest rate. These types of deposits are often issued by banks and trust companies in Canada. Since GICs are low-risk products, they are more likely to have lower returns than mutual funds, bonds, and even stoc...

What are the Actual Deferral Percentage & Actual Contribution Percentage Tests The Actual Deferral Percentage/Actual Contribution Percentage simply refers to two separate 401 (k) nondiscrimination plan tests. ERISA and the IRS require that a 401K pass these tests to maintain its qualified status. The purpose of these two tests is to determine wh...

How does one perfect a security interest by possession of the collateral? Article 9 allows a secured party to perfect a security interest in goods, instruments, negotiable documents or tangible chattel paper by securing possession of the collateral. Securing possession can mean personal possession or possession by an agent. If an agent secures posse...

What is the US Code of Federal Regulations?   ...