Mary’s dressing making business uses fabric supplies on a daily basis. Under the accrual method of accounting these supplies would be an expense of the period in which they are: paid for.

Ordered.

used.

received.

Which of the following is a competitive benefit experienced by the first mover firm in an industry? a. the first mover will be able to achieve a less steep learning curve. b. the first mover will be able to reduce the switching costs. c. the first mover will not have to patent its products or technology. d. the first mover will be able to reduce costs through economies of scale.