Surplus Refers to the Difference Between

question 1

Multiple Choice

Surplus refers to the difference between:

• A) the price at which a buyer or seller would be willing to trade and the actual price.
• B) the willingness to pay and the actual price paid.
• C) the willingness to sell and the actual price accepted.
• D) All of these are correct.

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Definitions:

Establishment Of Responsibility

An accounting principle that ensures specific duties are assigned to individuals to increase accountability and prevent errors and fraud.

Treasurer

A treasurer is an officer of a company or organization responsible for managing financial operations, including investment, risk management, and corporate finance.

Establishment Of Responsibility

An internal control principle aiming to assign specific responsibilities to individuals, thus ensuring accountability and reducing the risk of errors and fraud.

Cashier Department Supervisors

These are managers responsible for overseeing the operation of cashiers and related transactions within a retail or service environment, ensuring accuracy and customer satisfaction.