What Is the Term for Finding the Best Practices in Other

question 62

Multiple Choice

What is the term for finding the best practices in other organizations which can be brought into the company to enhance performance?

• A)worldwide quality standards
• B)profit maximization
• C)competitive assessment quality management
• D)benchmarking

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Definitions:

Sarbanes-Oxley Act

The Sarbanes-Oxley Act is a U.S. law enacted in 2002 to protect investors from potential fraudulent activities by corporations, improving financial disclosures and preventing accounting fraud.

Auditor's Report

A formal opinion or disclaimer, issued by an independent external auditor as a result of an audit or evaluation of a firm's financial statements.

Financial Statements

Formal records that outline the financial activities and condition of a business, including the balance sheet, income statement, and cash flow statement.

Unusual Item

A significant transaction or event that is infrequent in nature, distinct from the ordinary activities of the business.