Both Cost Leadership and Differentiated Firms Can Improve on Execution

question 35

Multiple Choice

Both cost leadership and differentiated firms can improve on execution through:

• A)Improved automation and a higher output of products.
• B)Benchmarking and total quality management.
• C)Cost cutting and downsizing of personnel.
• D)Improvements in product development.

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Definitions:

Revenue and Expense Accounts

Accounts in the general ledger that track the income generated from sales and the costs incurred during business operations, respectively.

Worksheet

A document or spreadsheet used for planning, adjusting entries, and preparing financial statements before they are finalized in official reports.

Income Statement

A financial statement that reports a company's financial performance over a specific period by detailing revenues, expenses, and net income.

Balance Sheet

A financial statement that provides a snapshot of a company's financial condition at a specific point in time, showing assets, liabilities, and equity.