Home › CBSE Class 11 (Commerce) › Accountancy › Introduction to Accounting › Competitors use a rival's accounts mainly for
Competitors use a rival's accounts mainly for
APaying out dividends
BLending out money
CBenchmarking strategy
DClaiming tax relief
Answer & Solution
Correct answer: C. Benchmarking strategy
Unlike other groups, competitors do not share in the firm's wealth and use the data for strategy and comparison.
Related questions
A trader sells stationery worth Rs 1,00,000 on credit to Mr. Ravi. Mr. Ravi is aMr. Sunrise starts with Rs 5,00,000, buys stationery worth Rs 1,50,000 from Mr. Peace on cSundry creditors are shown in the balance sheet on thePersons who owe the firm money for goods bought on credit areClosing stock of a manufacturing company comprises raw materials, finished goods andUnsold goods lying with a trader at the end of the period are calledTotal goods procured for use or sale, on cash and credit, are calledWithdrawal of cash or goods by the owner for personal use is