Under a __________ System,power Is Shared Among the Executive,legislative,and Judicial

question 90

Short Answer

Under a __________ system,power is shared among the executive,legislative,and judicial branches.Each of these three branches is relatively independent so that one cannot control the others.

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Definitions:

Outstanding Checks

Checks that have been written and recorded in the issuing company's books but have not yet been cleared by the bank.

Outstanding Checks

Checks that have been written and recorded in the issuing party's account but have not yet been cashed or cleared by the bank.

Reconciliation Procedure

A process used to ensure that two sets of records (usually the balances of two accounts) are in agreement, identifying discrepancies and reasons for them.

Internal Control

Internal control constitutes the procedures and mechanisms implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.