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Porter contends that ____ and ____ are two important competitive strategies.
IFRS
International Financial Reporting Standards, a set of global accounting guidelines that govern how companies prepare and disclose their financial statements.
GAAP
Generally Accepted Accounting Principles; the standard framework of guidelines for financial accounting used in any given jurisdiction.
Current Liability
A company's debts or obligations that are due within one year, including accounts payable, short-term loans, and taxes payable.
Warranty Liability
The obligation a company assumes when it guarantees the condition of its product and agrees to repair or replace defective products.
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