For an Evaluation to Be Fair, Students Need to Know

question 14

True/False

For an evaluation to be fair, students need to know the criteria used to evaluate before they begin their work.

---

Definitions:

Bank Reconciliation

The process of matching and comparing figures from accounting records against those presented on a bank statement to ensure consistency and accuracy in financial records.

Voucher System

A control mechanism in accounting to ensure that every payment is properly authorized and recorded.

Liability

A company’s legal financial debts or obligations that arise during the course of business operations.

Cash Payment

A transaction where payment for goods or services is made immediately using cash or a cash equivalent, as opposed to credit.