A firm's objectives or goals serve as a yardstick against which success or failure is measured.

Question

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A firm's objectives or goals provide a standard for evaluating the effectiveness and success of its operations and decisions. If a firm achieves its objectives, it is considered successful; if it fails to achieve them, it is considered unsuccessful. Therefore, the objectives or goals serve as a yardstick against which success or failure is measured.

A Firm's Objectives or Goals Serve as a Yardstick Against