Managers Can Pursue Any of Several Strategic Approaches to Reduce

question 19

Multiple Choice

Managers can pursue any of several strategic approaches to reduce the costs of internally performed value chain activities and improve a company's cost competitiveness by

• A)investing in productivity-enhancing,cost-saving technological improvements.
• B)outsourcing internally performed activities to those able to perform the activities at a lower cost.
• C)implementing the use of best practices,particularly for high-cost activities.
• D)eliminating some cost-producing activities from the value chain,especially low value-added activities.
• E)acquiring suppliers,rivals,or forward channel distributors.

---

Definitions:

Accrued Wages

Wages that have been earned by employees but have not yet been paid by the end of the accounting period.

Wages Payable

Liabilities representing the amounts owed to employees for work performed but not yet paid.

Post-Closing Trial Balance

A list of all accounts remaining after closing entries have been made, showing the balances ready for the next accounting period.

Closing Entries

Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts, thus preparing the books for the next period.