Examlex
The item numbered 1 in the accompanying figure is known as the ____.
Internal Control
Procedures and practices implemented by a company to safeguard assets, ensure accurate financial reporting, and promote compliance with laws and regulations.
Cash Receipts
The collection of money, including coins, notes, and electronic transfers, received by a business during its normal operations.
Over-The-Counter
A decentralized market where securities not listed on formal exchanges are traded directly between parties.
Voucher System
An internal control mechanism in accounting, where documents (vouchers) are prepared for every transaction involving the payment of cash or transfer of funds.
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