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A highly automated computerized system of accounting eliminates the need for internal control.
Annual Inflation Rate
The percentage increase in the price of goods and services over a one-year period, reflecting the decreasing purchasing power of a currency.
Purchasing Power
The measure of what one unit of currency can buy in terms of goods or services.
Compounded Monthly
The practice of calculating interest on the principal and the accumulated interest each month.
Compounded Semiannually
Interest that is calculated and added to the principal balance twice a year.
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