________ Means Analyzing a Competitor's Product to Identify Desirable Improvements

question 187

Multiple Choice

________ means analyzing a competitor's product to identify desirable improvements, while ________ means evaluating paperwork to determine the value it adds for customers.

• A) Value added analysis; benchmarking
• B) Benchmarking; re-engineering
• C) Competitive product analysis; value added analysis
• D) Statistical process control; performance quality analysis
• E) Value added analysis; quality reliability analysis

---

Definitions:

Current Liabilities

Liabilities that a company is obligated to pay within one year or within its normal operating cycle if longer.

Statement of Owner's Equity

A financial statement detailing the changes in owners' equity over a specific period, including contributions, withdrawals, and the effect of the net income or loss.

Service Business

A type of business that provides intangible products or services to customers rather than physical goods.

Merchandise Business

A commercial enterprise that purchases and sells goods, typically in the retail or wholesale markets, to generate profit.