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Compared to the decentralized management structure,which of the following is a disadvantage of the centralized management structure?
Accounting Standards
Rules and guidelines set by governing bodies that determine how financial transactions and statements are recorded and reported.
Independent Audit Firms
External organizations hired to examine an entity's financial records and statements to ensure accuracy and compliance with accounting standards.
Publicly Owned Companies
Corporations whose shares are traded on public stock exchanges, allowing public investing and ownership.
Audit Standards
Guidelines and procedures set by governing bodies that dictate how financial audits should be performed, ensuring consistency, reliability, and accuracy of financial reporting.
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