ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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SUSTAINABLE COMPETITIVE ADVANTAGE Definition
SUSTAINABLE COMPETITIVE ADVANTAGE (SCA) is the realization of long-term benefits of implementing unique core strategies that create value. The sustainable advantage over competitors is due to their inability to duplicate the benefits of the strategies implemented.
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CHARGEBACK, in the credit industry, occurs when a credit card processor 'charges back' to the merchant the cost of returned items or incorrect orders that the customer claims were made to his or her credit card.
PERPETUAL SUCCESSION is one of the legal distinctions between a business and a company. A company has perpetual succession meaning that a change in the membership does not affect the existence of the company whereas a business does not enjoy this perpetual succession. For example, in the case of a partnership, which is one form of business registration, a change in the membership affects the partnership.