Business: Strategic Management and E. Correct Response

5024 WordsJun 27, 201321 Pages
Peregrine Academic Services Test Bank Questions Undergraduate Level, CPC-COMP Exam Topic: Accounting Subtopic: Accounting 3261 When a business erroneously records expenses as assets, it has violated the measurement issue of A. communication. B. classification. C. valuation. D. recognition. E. Correct Response: B 3302 A dividend will reduce which of the following accounts? A. Dividends B. Retained Earnings C. Common Stock D. Accounts Payable E. Correct Response: B 3342 Unearned revenues are recorded by companies that A. receive money in advance of the performance of a service. B. pay money at the time the performance of a service is complete. C. receive money at the time the performance of a service is complete. D. pay money in…show more content…
D. may be the only firm able to pay the higher prices and continue to earn average or above- average returns. E. Correct Response: D 2594 TQM is most helpful to firms following the ____ business strategy. A. cost-leadership B. integrated cost-leadership/differentiation C. focused cost-leadership D. focused differentiation E. Correct Response: B Peregrine Academic Services Test Bank Questions Undergraduate Level, CPC-COMP Exam Subtopic: Strategic Management 2441 A firm has achieved ____ when it successfully formulates and implements a valuecreating strategy. A. strategic competitiveness B. a permanently sustainable competitive advantage C. substantial returns D. legal and ethical core values E. Correct Response: A 2445 The strategic management process is A. a set of activities that will assure a sustainable competitive advantage and above-average returns for the firm. B. a decision-making activity concerned with a firm’s internal resources, capabilities, and competencies, independent of the conditions in its external environment. C. a process directed by top-management with input from other stakeholders that seeks to achieve above-average returns for investors through effective use of the organization’s resources. D. the full set of commitments, decisions, and actions required for the firm to achieve above-average returns and strategic competitiveness. E. Correct Response: D 2476 A firm’s mission A. is a statement of a

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