What Are the Three Sources of a Unique and Valuable

question 56

Multiple Choice

What are the three sources of a unique and valuable strategic position?

• A) few needs, many customers; broad needs, few customers; broad needs, many customers
• B) low-cost products; huge market needs; unique products
• C) many needs, few customers; little need, many customers; narrow needs, few customers
• D) poor products available; few products available; no products available
• E) bad economy; strong economy; stable economy

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Definitions:

Significant Influence

The power to participate in the financial and operating policy decisions of an entity, but not control those policies.

Fair-value Method

An accounting strategy used to measure and report assets and liabilities on the basis of estimated fair market prices.

Equity Method

An accounting technique used to record investments in associated companies, recognizing the investor's share of the investees' income.

Retrospective Change

An adjustment applied to prior period financial statements to correct an error or reflect a new accounting policy as if it had always been applied.