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Corporate shareholders are best protected from incompetent management decisions by
Nonfinancial Performance
Measures of an organization's success not directly related to financial gains, such as customer satisfaction, employee engagement, and environmental impact.
GAAP or IFRS
Standards and principles that provide the framework for financial accounting and reporting, with GAAP used in the United States and IFRS internationally.
Objectivity and Verifiability
Accounting principles emphasizing the importance of unbiased financial information and the ability to confirm the accuracy of this data.
Just-In-Time (JIT)
A manufacturing strategy that aims to reduce inventory levels and increase efficiency by producing products only as they are needed.
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