ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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ENTERED see JOURNAL ENTRY.
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COMPETITIVE ADVANTAGE exists when the firm is able to deliver the same benefits as competitors but at a lower cost (cost advantage), or deliver benefits that exceed those of competing products (differentiation advantage). Thus, a competitive advantage enables the firm to create superior value for its customers and superior profits for itself. See also SUSTAINABLE COMPETITIVE ADVANTAGE.
CLIENT is someone who pays for goods or services.