In your own words, briefly explain the concept of 'benchmarking' in the context of financial management The

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In your own words, briefly explain the concept of 'benchmarking' in the context of financial management The process in place to monitor and control costs against the budgets should have the following feature: Select one of the following The ability to provide high-quality, accurate information on a timely basis The ability to provide appropriate data, both financial and non-financial, if applicable The ability to integrate systems to record information and produce reports. All of the above