There Are ______ Generic Competitive Strategies by Which a Small

question 24

Multiple Choice

There are ______ generic competitive strategies by which a small business can gain a competitive advantage.

• A) two
• B) three
• C) four
• D) five

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Definitions:

Flow Of Costs

Flow of Costs refers to the manner in which costs move through a company's accounts, typically beginning as inventory and transitioning through to the cost of goods sold.

Allocating And Assigning

The process of charging costs to cost objects or determining how costs should be divided and assigned to specific segments of a business.

Accumulating And Assigning

The process of gathering cost data and allocating it to specific products, services, or departments.

Raw Materials Inventory

The total cost of all the materials that are used in making a product but have not yet been converted into the finished product.