CORE COMPETENCY Definition

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CORE COMPETENCY is a specific factor that a business believes as being central to the way it, or its employees work. A core competency normally fulfils three key criteria:

  • It provides customer benefits
  • It is not easy for competitors to imitate or duplicate
  • It can be leveraged widely to many products and markets.

Learn new Accounting Terms

FINANCIAL INCOME is that income that is contained within the financial statements of an entity. Financial income normally is not in alignment with taxable income reported in income tax returns. See TAXABLE INCOME.

REPOSSESSION is the action of regaining possession, e.g. the seizure of collateral securing a loan that is in default.

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