How is competitive advantage different from competitive parity?
What will be an ideal response?
A firm that achieves superior performance relative to other competitors in the same industry or the industry average has a competitive advantage. To gain a competitive advantage, a firm needs to provide either goods or services consumers value more highly than those of its competitors at a comparable cost, or goods or services similar to the competitors' at a lower cost. Should two or more firms perform at the same level, they have competitive parity.
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The auditor is not responsible for the presentation of financial statements; therefore, the auditor has no responsibility for fraud in the financial statements
a. True b. False Indicate whether the statement is true or false
Sean's gross pay for this month is $8750. His gross year-to-date pay, prior to this month, totaled $112,000. Sean's rate for federal income tax is 25%. His voluntary deductions total $950. What is Sean's net pay? (Assume an OASDI rate of 6.2%, applicable on the first $118,500 earnings, and a Medicare rate of 1.45%, applicable on all earnings. Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)
A) $6032.62 B) $5612.50 C) $6562.50 D) $5082.62
Each trust has which of the following?
a. Executor. b. Corpus. c. Testator. d. All of these.
When member countries of the World Trade Organization files a dispute with the organization, the dispute will be resolved by:
a. the General Assembly of the United Nations b. the Board of the International Monetary Fund c. the World Bank d. a three-person arbitration panel e. the International Court of Justice