CHAPTER 11 Definition

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CHAPTER 11, in the U.S., is where a company can file for protection under Chapter 11 of the bankruptcy laws. The company continues to operate under existing management while working with its creditors to reorganize the business.

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QUALITY CIRCLE is a volunteer group composed of workers, sometimes students, with the stated goal to improve processes or product quality through analyses leading to process or design changes that reduce costs or enhance quality of the finished product.

ADDITIONAL PAID IN CAPITAL is the amounts paid for stock in excess of its par value; included are other amounts paid by stockholders and charged to equity accounts other than capital stock.

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