For a Resource to Provide a Firm with the Potential

question 20

Multiple Choice

For a resource to provide a firm with the potential for a sustainable competitive advantage,it must have four attributes.Which of the following is not one of these attributes?

• A) rare
• B) valuable
• C) easy for competitors to substitute
• D) difficult for competitors to imitate

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Definitions:

Joint Costs

Expenses that are incurred in the process of producing two or more products up to the point where the products are separately identifiable.

Budgeted Costs

Estimated expenses planning for future periods, which companies use for managing financial resources and controlling expenditures.

Responsibility Accounting

This accounting methodology focuses on collecting, summarizing, and reporting financial information related to the responsibilities of individual managers.

Performance Report

A document that compares budgeted to actual financial results to gauge the performance of a department, project, or company.