Excellent Execution of an Excellent Strategy Is

question 76

Multiple Choice

Excellent execution of an excellent strategy is:

• A) the best test of managerial excellence and the best recipe for making a company a standout performer.
• B) a solid indication that managers are maximizing profits and looking out for the best interests of shareholders.
• C) the best test of whether a company is a "true" industry leader.
• D) the best evidence that managers have a emerging business model.
• E) the best test of whether a company enjoys sustainable competitive advantage.

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Definitions:

Closing Entries

Closing entries are journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts, thereby preparing the temporary accounts for the next accounting period.

Adjusted Trial Balance

A trial balance taken after adjusting entries have been made to ensure total debits equal total credits.

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to a permanent owner's equity account, preparing the accounts for the next period.

Adjusted Trial Balance

A record comprising all accounts with their respective balances, updated following adjustment entries, which serves as a foundation for creating financial reports.