The Top Managers of an Organization Typically Use a Variety

question 69

Essay

The top managers of an organization typically use a variety of financial indicators to assess the performance of their organization.Discuss the four major types of financial measures and give one specific example of how each would be computed.

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Definitions:

Implied Authority

When the authority of the agent is implied from surrounding circumstances, such as the position or title given (by the principal) to the agent.

Ratify

To officially approve or confirm actions, agreements, or treaties through a formal consent, typically by voting or signing.

Warranty

A guarantee provided by a seller regarding the condition of a product and the promise of repair or replacement if necessary.

Contract

A legally enforceable agreement between two or more parties with clear terms and conditions.