A Sustainable Competitive Advantage Is Gained

question 138

Multiple Choice

A sustainable competitive advantage is gained:

• A) when a company has durable competitive assets that are central to its strategy and superior to those of rival firms.
• B) when a company has sufficient resources to expedite its strategy.
• C) when a company realizes its inherent weaknesses are transformable to advantages.
• D) when a company can stand out relative to rivals because of resource utilization.
• E) All of these.

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Definitions:

Fiscal Year

A twelve-month period used for accounting purposes to prepare financial statements, which may or may not align with the calendar year.

Calendar Year

A one-year period that begins on January 1 and ends on December 31, used for most financial and tax reporting purposes.

Financial Statements

Formal records of the financial activities and position of a business, person, or other entity, typically including a balance sheet, income statement, and cash flow statement.

Closing Entries

Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts.