Answered: Which of the following is the best…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Transcribed Image Text:Which of the following is the best example of a core competency or competitive advantage? a. The entity just completed a research and established technical feasibility on its advanced production process. This was not patented. b. The entity is in a cut--throat competition with one of its rivals. It has just lowered the prices compared to that rival. c. Acomposer has copyright over his works throughout his lifetime and even extends beyond 50 years from his death. d. Allan recently established a brand for his loyal customers. There is a significant decrease in unit sales. Which of the following would be the LEAST likely action among the different departments? a. Communicate with inbound logistics and determine whether raw materials contributed to increase in product failure. b. Review changes in technology and determine whether there is obsolescence in the products and the production process c. Inquire with the after-sales service whether there are indications of high level of unresolved customer complaints. d. Consult with marketing and sales to determine whether there are changes in customer preferences. Product differentiation is evident in the following cases EXCEPT a. The entity provides superior customer service with the organization mindset of quick response. b. The entity sells products that are priced significantly lower compared to competitors. c. The entity creates products that have features that are significantly of a high level compared to competitors. d. The entity continuously manufactures products in a pace that competitors cannot match. Abecer & Co., an accounting firm, is.located in the central business district of Makati. Using Porter's Five Forces, which will significantly affect the rivalry between competitors and Abecer (A) The proximity of the accounting firms in the area (B) The similarities in the service offerings (C) The competitiveness of pricing strategies a. A and Bonly b. A and Conly c. Band Conly d. A, Band C

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