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______ Is the Practice of Using Contracts to Transfer Some

question 26

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______ is the practice of using contracts to transfer some of an organization's recurring internal activities and decision-making rights to outsiders better equipped to utilize the latest technologies and reduce costs.


Definitions:

Board of Directors

The Board of Directors is a group of individuals elected to represent shareholders and oversee the activities and strategic direction of a company.

GAAP

Generally Accepted Accounting Principles, a set of accounting standards and procedures used in the United States to govern financial reporting.

Financing Provided

Funds supplied to businesses or individuals for the purpose of investing, expansion, or operating expenses that are expected to be repaid in the future.

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