Examlex
Instructions: Explain/Define the following terms.
Long March
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.
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