Local Firms with Firm Specific Assets That Are Transferable Across

question 14

Multiple Choice

Local firms with firm specific assets that are transferable across national borders and are in industries with low pressure to globalize should expand into overseas markets that are similar to their home markets. This is referred to as a(n) ________________ strategy.

• A) Extender
• B) Contender
• C) Dodger
• D) Defender

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Definitions:

Closing Entries

Journal entries made at the end of an accounting period to transfer temporary accounts’ balances to permanent ones, resetting the temporary accounts for the next period.

Journalized

The process of recording transactions in a company's journal, marking the first step in the accounting process.

End-Of-Period Spreadsheet

A financial statement prepared at the conclusion of an accounting period, summarizing the income, expenses, and adjustments to accounts.

Retained Earnings

Retained earnings are the portion of a company's net income that is kept within the company instead of being paid out to shareholders as dividends, often used for reinvestment in the business or to pay down debt.