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What is the largest artery in the body?
Internal Control System
Procedures and methods to control a firm’s assets as well as monitor its operations.
Accounting Department
A division within a company or organization that is responsible for managing financial records, transactions, and reporting.
Periodic System
An inventory system that updates inventory and cost of goods sold at the end of each accounting period.
Vouchers Payable
A liability account in the general ledger that represents the controlling account for the sum of individual vouchers.
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