You are a trainee management accountant working for a prestigious manufacturing firm. One day you go to a business meeting a business meeting and the managing director is there. They stand up and say that the

company is losing too much money through wastage and losses and so they have decided to implement a total quality management system. They go on to say this system will:

1:Allow the company to improve on a consistent and continual basis

2:Allow the company to identify and allocate quality accountability to certain departments

3:Help the company detect error and fraud

Are ALL of these statements correct?