Competitive Advantage for Global Firms Grows Out of Continuous Improvement,innovation,and

question 276

Multiple Choice

Competitive advantage for global firms grows out of continuous improvement,innovation,and __________.

• A)accountability
• B)change
• C)product quality
• D)company size
• E)location

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Definitions:

Cost Variance

The difference between the actual cost incurred and the standard or budgeted cost, used in budgeting and financial analysis.

Standard Costs

Predetermined costs to manufacture a product, serving as a benchmark for measuring performance.

Actual Costs

The real costs incurred by a business during a specific period, as opposed to budgeted or forecasted costs.

Standard Costs

Predetermined or estimated costs of manufacturing, used for budgeting and assessing performance.