A ________ Has Three Characteristics: (1) a Source of Competitive

question 142

Multiple Choice

A ________ has three characteristics: (1) a source of competitive advantage making a significant contribution to perceived customer benefits; (2) has applications in a wide variety of markets; and (3) is difficult to imitate.

• A) core competency
• B) market sensing process
• C) corporate social responsibility effort
• D) strategic business unit
• E) philanthropic endeavor

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Definitions:

Financial Accounting Standards

Rules and standards set by authoritative bodies that dictate how companies prepare and present their financial statements.

AICPA

Stands for American Institute of Certified Public Accountants, a professional organization for Certified Public Accountants (CPAs) in the United States.

SEC

The U.S. Securities and Exchange Commission, the federal agency responsible for enforcing federal securities laws and regulating the securities industry.

FASB

stands for the Financial Accounting Standards Board, which is responsible for establishing accounting and financial reporting standards in the United States.