________ and ________ Are Typically the Most Easily Identifiable Aspects

question 42

Multiple Choice

________ and ________ are typically the most easily identifiable aspects of a company's business model.

• A) Market strategy; market opportunity
• B) Value proposition; revenue model
• C) Competitive advantage; competitive environment
• D) Revenue model; market opportunity

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Definitions:

Theoretical Standards

These are rigorous, often idealized cost and efficiency standards based on perfect operating conditions, used for comparison and performance analysis.

Ideal Standards

Benchmarks used in managerial accounting that represent optimal levels of performance under perfect operating conditions.

Normal Standards

Benchmarks or norms established for a business process or operation that are considered to be a typical or expected level of performance.

Total Manufacturing Cost Variance

The difference between actual manufacturing costs and the standard costs of those manufactured items.