Benchmarking Involves

question 76

Multiple Choice

Benchmarking involves

• A) comparing how different companies perform various value chain activities and then making cross-company comparisons of the costs of these activities.
• B) checking whether a company has achieved more of its financial and strategic objectives over the past five years relative to the other firms it is in direct competition with.
• C) studying whether a company's resource strengths are more/less powerful than the resource strengths of rival companies.
• D) studying how a company's competitive capabilities stack up against the competitive capabilities of selected companies known to have world class competitive capabilities.
• E) comparing the best practices in one industry against the best practices in another industry.

Grasp the importance of gender identity in forming one's self-concept and its implications for marketing.

Discern how societal expectations about gender-appropriate behavior influence individual choices and perceptions.

Discuss the significance of the LGBT market to marketers and considerations for targeting this demographic.

Understand the sequential steps necessary in preparing for a job search, including self-assessment, resume preparation, and job application.

---

Definitions:

Bad Debts Recovered

When an account receivable has been written off and is recovered, this account, which is in the Other Revenue category, is credited in the direct write-off method if the recovery is in a year following the write-off.

Allowance for Doubtful Accounts

A contra asset account that estimates the portion of receivables that may not be collectible, affecting a company’s net income and assets.

Bad Debts Expense

An expense reported on the income statement, representing the estimated irrecoverable amounts from customers who can no longer pay their obligations.

Direct Write-off Method

A method of accounting for bad debts that involves charging unpaid customer invoices directly to the expense account at the time they are deemed uncollectible.