TRUE/FALSE

1. A firm's resource that is valuable and costly to imitate always results in external opportunities.

2. A competitive advantage that one firm gains in an industry where perfect competition exists is not likely to be sustainable over time.

3. A firm with a current ratio above 2.0 is likely to be a firm that is facing short-term financial trouble.

4. The VRIO decision tree can tell us if a firm has sustainable competitive advantages.