A Variety of Firm Resources Include Interpersonal Relations Among Managers

question 62

Multiple Choice

A variety of firm resources include interpersonal relations among managers in the firm, its culture, and its reputation with its suppliers and customers. Such competitive advantages are based upon

• A)path dependency.
• B)social complexity.
• C)physical uniqueness.
• D)tangible resources.

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Definitions:

Services Provided

The performance of work, assistance, or activities for the benefit of another individual or organization.

Expense Accounts

These accounts record the consumption of assets or services that occur during the operation of a business, leading to a decrease in owner's equity.

Revenue Accounts

Accounts in the general ledger that track the income generated by a company from its normal business operations.

Gain On Sale

The profit realized when a capital asset is sold for a higher price than its purchase price.