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Instructions: Explain/Define the Following Terms

question 65

Essay

Instructions: Explain/Define the following terms.
Long March


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.

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