Question: a)The basic qualities needed by a good performance measure are precision and sensitivity. Define and explain these two characteristics. (4 Marks) Suppose that improvements to

a)The basic qualities needed by a good performance measure are precision and sensitivity. Define and explain these two characteristics. (4 Marks)

  1. Suppose that improvements to GAAP reduce the noise in net income. Should the recommended percentage paid to the CEO be increased or decreased? Explain why. (3 Marks)

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