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Machiavelli believed
Political Contracts
Agreements made in the context of political relations, often involving government entities, which can encompass a wide range of subject matter from trade to defense.
Managerial Contracts
Agreements outlining the terms and responsibilities between managers and the entity they manage, often including performance criteria, duties, and compensation.
Professional Judgement
The application of knowledge, expertise, and experience to make informed decisions within the context of professional practices.
Net Realisable Value
The estimated selling price of an asset in the ordinary course of business minus any costs associated with its sale or disposal.
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