A Division Is a Functional Area,such as Human Resources,that Serves

question 1

True/False

A division is a functional area,such as human resources,that serves all areas of a company.

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Definitions:

Voucher System

A control mechanism in accounting where vouchers are used to authorize the payment of a liability; an internal control for cash disbursements.

Bank Deposit

A sum of money placed in an account with a banking institution, often earning interest.

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.