Match the Internal Control Principle Below with the Appropriate Cash

question 79

Essay

Match the internal control principle below with the appropriate cash receipts procedure described.

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Definitions:

General Journal

The primary accounting record where all financial transactions of a business are initially recorded before summarizing.

Cost Effectiveness

An assessment of the financial viability of a project, product, or measure based on the costs incurred versus the benefits achieved.

Flexibility

The capacity to adapt to changing conditions or circumstances in a business or operational context.

Useful Output

The amount of finished product or completed service that is produced and considered of value to the consumer or market.