Barter Company borrows $20,000 for one year a 9% interest, but must maintain a $1,600 compensating balance. The effective rate of interest on this loan is

Total quality management differs from traditional performance measurement in that it:

A. has an external, rather than an internal, focus. B. is a top-down review process. C. assesses both individual performance and the system within which the individual works. D. focuses exclusively on support decisions about work assignments, training, and compensation. E. provides only subjective feedback based on the work process.

For important non-routine purchases, the person with formal authority to approve the supplier is the ________, often someone in a specific functional area.

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