In Order to Ensure That It Has a Competitive Advantage

question 65

Multiple Choice

In order to ensure that it has a competitive advantage over its competitors, Best Star, Ltd., decides to acquire the much smaller KAG, Inc. The move is an example of a

• A)vision.
• B)business model.
• C)strategy.
• D)mission.

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Definitions:

Voucher System

An accounting system that involves a written authorization or record for any transaction that will result in a cash payment.

Cash Payments

Transactions that involve the immediate transfer of cash to settle a debt or purchase goods or services.

Acceptance

Acceptance in business refers to the agreement to the terms of a contract or an acknowledgment that a product or service meets the required standards.

Cash Receipts

Money received by a business during a given period, accounting for its cash inflow.