Match Each Term with the Correct Definition

question 47

Multiple Choice

Match each term with the correct definition.
-Reasoning based on a series of facts or events

• A)Intuition
• B)Illogical metaphors
• C)Eleven- and twelve-year-olds
• D)Physical development
• E)Moral reasoning
• F)Logic
• G)Refinement
• H)Nine- and ten-year-olds
• I)Vision problems
• J)Long-term memory

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Definitions:

Internal Control Procedures

Methods and guidelines set up by an organization to guarantee the accuracy of fiscal and accounting data, encourage responsibility, and deter dishonest practices.

Bank Reconciliation

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

Memoranda

Brief, informal written records used to aid memory or inform others within an organization.

Deposits In Transit

Funds that have been sent to a bank but have not yet been recorded in the bank's records, leading to a discrepancy between the company’s cash records and bank statement.