According to the Resource-Based View of the Firm (RBV) Model

question 61

Multiple Choice

According to the resource-based view of the firm (RBV) model, what is the most likely source of competitive advantage for any firm?

• A) Ability to correctly identify opportunities and threats in the external environment.
• B) Ability to effectively establish barriers to entry that keep competitors out of the industry.
• C) Ability to use unique resources and capabilities to create value for customers.
• D) Ability to lobby government agencies and reduce the amount of government regulation.

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Definitions:

Accounts Receivable

Accounts receivable represents money owed to a company by its customers for goods or services that have been delivered or used but not yet paid for.

Subsidiary Accounts

Subsidiary accounts are detailed records that support or explain the balances in one or more general ledger accounts.

Control Account

A general ledger account that summarizes the total amounts recorded in subsidiary ledgers for individual components, like accounts receivable or payable.

Special Journals

Accounting journals designed for recording a specific type of transaction in a detailed manner, such as sales or purchases.