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question 8

Multiple Choice

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Understand the fundamentals of cash management and the importance of maintaining a cash change fund.

Demonstrate the ability to record cash transactions accurately in journal entries.

Identify and explain discrepancies in cash transactions and propose solutions.

Understand the concept and benefits of electronic funds transfer (EFT) in financial transactions.

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Definitions:

Optimization

The process of making something as fully perfect, effective, or functional as possible, often by using mathematical models or algorithms.

Equity

Fairness or justice in the way people are treated, often considered in contexts like economics, law, and social issues.

Efficiency

The extent to which resources such as time, energy, or materials are used well to achieve desired results, minimizing waste.

Observed Misconduct

Incidents or actions witnessed by an individual that violate ethical norms, laws, or organizational policies, potentially leading to harm or legal consequences.