Q Ratio  - Refers to the market value of all securities (not just equity) divided by the replacement cost (not book value) of all assets.  This ratio reflects the market value of a new investment.

Qualification - 1. reference in the audit report to a material limitation placed on the auditor's examination or to uncertainty regarding a specific item in the financial statements. Or 2. reservation in a proposed agreement making the agreement unenforceable unless a specified condition is met. Or 3. technical competence to perform a particular job, such as passing the CPA examination and meeting experience requirements in order to be licensed as a certified public accountant.

Qualified opinion – Refers to the auditor's opinion accompanying a financial statement that calls attention to limitations in the audit or exceptions the auditor has taken with the audit of the statements.

Qualitative information – Different from quantitative which relates to numerical amount qualitative information is that which is descriptive in nature, relating to, or involving quality or kind.

Quality – Features of a product that allow it to satisfy customers’ needs.  It may refer to some standard of excellence.

Quality assurance – A method of working for businesses that takes into account customers’ want when standardising quality.  It often involves guaranteeing that quality standards are met.

Quality chains – When employees from a series of links between customers and suppliers in business, both internally and externally.

Quality control - 1. procedures to establish an optimal level of audit performance by practitioners. Included are proper supervision over field work, evaluation of internal control, and employment of generally accepted auditing standards. The monitoring of a CPA firm's system of quality control by a peer reviewer involves consideration of the adequacy and relevance of the CPA firm's procedures, practices, and compliance thereto, effectiveness of professional development, and quality of the CPA firm's practice aids. Or 2. policies and techniques used to assure that some level of performance has been achieved. Included are controls in design and inspection. Variances from established norms are identified and rectified. Or 3. in manufacturing, procedures to achieve a desired level of satisfaction of the operation or product being produced. A number of tests and measurements may be required to determine that a part meets required specifications.See Total Quality Management (TQM) and benchmarking (best practices).

Quality control circles – Small groups of workers in the same area of production which meet regularly to study and solve all types of production problems.

Quality review - The evaluation by one accounting firm or accountant of the soundness of the practices of another accounting firm or accountant.

Quality training – The process of familiarising all employees with the means for preventing, detecting, and eliminating non-quality. The educational processes are tailored to the appropriate groups.

QUANGO - Quasi Autonomous Non-Governmental Organisations.

Quantitative factors - Are considerations relevant to a decision that can be measured in terms of money or quantitative units.

Quantitative information – Different from qualitative. Quantitative is information relating to, or expressible in, terms of quantity.

Quantitative models (methods) - Collection of mathematical and statistical methods used in the solution of managerial and decision-making problems, also called operations research (OR) and management science.

Quantity demanded - The amount of a product that con­sumers wish to purchase in some time period.

Quantity equation - The equation M x V = P x Y, which relates the quantity of money, the velocity of money, and the dollar value of the economy's output of goods and services.

Quantity of labour demanded - The number of labour hours hired by all the firms in an economy.

Quantity of labour supplied - The number of of labour services that households supply to firms.

Quantity supplied - The amount of a product that producers wish to sell in some time period.

Quantity theory of money - The proposition the increase in the quantity of money leads to an equal percentage increase in the price level.

Quarterly reports - Are financial report issued every three months between annual reports.

Quasi business expenses – Is used to refer to those range of tax deductible expenses which may qualify as a business or personal expense. This is dependent upon the specific individual situation, e.g. company car, golf club dues or travel expenses.

Questionnaires - A set of questions to be answered as a means of collecting data for market research.

Quick assets - This is current assets minus inventories.

Quick ratio (or Acid Test Ratio) – This ratio is a more rigorous and informative test than just the current ratio in measuring a firms short-run liquidity. This refers to a firms current ability to pay its current debts when they become due. This ratio takes into account cash, marketable securities (cash equivalents) and accounts receivable only, this is because these are considered very liquid forms of current assets. ie Inventories are subtracted from the other current assets.

Quota - A restriction on the quantity of a good a firm is permitted to sell or that a country is allowed to import.

Quota (set by a cartel) - The output that a given member of a cartel is allowed, to produce (production quota) or sell (sales quota).

Quota sample - People selected on the basis of certain characteristics (e.g. age, gender, income) as a source of information for market research.

Quotation - 1. a statement of the market price (current) of a security or specified commodity. Or 2. an offer to sell items at a specified price and under specific set of conditions.

Quote -  To state the specific price of a service or asset, e.g. a specific stock price or fee for a specific service.

Quoted price – Is the price of the last transaction of a listed security or an estimate of how much a particular job or item will cost.