Which of the Following Terms Is a Concept,developed by Michael

question 24

Multiple Choice

Which of the following terms is a concept,developed by Michael Porter,which describes the activities within firms and across firms that add value along the way to the ultimate transacted good or service?

• A)Five forces
• B)Value creation
• C)Value chain
• D)Consumer surplus
• E)Producer surplus

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Definitions:

Income Statement

A financial report that shows a company's revenues, expenses, and net income over a specific period of time.

Functional Currency

The primary currency of the primary economic environment in which an entity operates, usually used in its financial reporting.

Sales

The total receipts a company generates from selling its goods or services over a certain period of time; also often referred to as revenue.

Exchange Rates

A financial metric that determines how much one currency is worth in terms of another. It facilitates international trade and investment.