What Are the Responsibilities of Top Management

question 45

Essay

What are the responsibilities of top management?

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Definitions:

Internal Control

A process implemented by a company to help ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Voucher System

An accounting system that involves the process of creating, approving, and documenting all purchases made by the company through vouchers.

Voucher Register

A comprehensive log that records details of all vouchers issued, including payment information, for accounting and auditing purposes.

Check Register

A record of checks written, deposits made, and balances in a checking account, used for tracking financial transactions.