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1. Discuss the significance of the Clientele Effect in financial management. 2. Historical standards are based on the past performance of the company, and are

1. Discuss the significance of the Clientele Effect in financial management.

2. Historical standards are based on the past performance of the company, and are used to establish trends of the companys performance over several industry years. With reference to the statement above explain the way Industry Standards are determined/ influenced.

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