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Describe Centralization and Decentralization,delegation,and Authority as the Key Ingredients in Establishing

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Essay

Describe centralization and decentralization,delegation,and authority as the key ingredients in establishing the decision-making hierarchy.


Definitions:

Purchases Journal

A financial record keeping system that tracks all purchases of merchandise, supplies, or other assets on credit.

Cash Payments Journal

A cash payments journal is a financial journal that records all cash outflows or payments made by a business.

Special Journal

A type of accounting journal dedicated to recording specific types of transactions, such as sales or purchases, to increase efficiency.

Purchases Journal

A specialized accounting journal used to record all purchases of goods and services on credit.

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