Examlex
List and describe each of the four steps of the assessment process.
Financial Statements
Formal records of the financial activities and position of a business, entity, or individual, including the income statement, balance sheet, and statement of cash flows.
Timeliness
The concept of providing information in a timeframe that is useful for decision-making purposes, often relevant in financial reporting and investing.
Efficiency
The effectiveness with which an organization utilizes resources to achieve its objectives with minimum waste.
Accuracy
The extent to which the outcome of a measurement, computation, or detail agrees with the true value or an established norm.
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