According to the Resource-Based View of the Firm,competitive Advantages Are

question 99

Multiple Choice

According to the resource-based view of the firm,competitive advantages are ________ for competitors to copy,if they are based on unique bundles of resources.

• A) easier
• B) faster
• C) harder
• D) more reliable

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Definitions:

Cost Flow Assumption

A method adopted by businesses to value inventory and determine the cost of goods sold, such as FIFO (First In, First Out) or LIFO (Last In, First Out).

FIFO

"First In, First Out," an inventory valuation method assuming that the first items purchased are the first ones sold, affecting the cost of goods sold and ending inventory value.

Specific Identification

An accounting method used for inventory costing, where each item in inventory is identified and its cost is individually recorded.

LIFO

"Last In, First Out," a method of inventory valuation where the most recently produced or acquired items are the first to be expensed.