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Internal Control
A process implemented by a company to ensure the integrity of financial and accounting information, meet operational and profitability targets, and transmit management policies throughout the organization.
Cash Payments
Transactions that involve the immediate outflow of cash to settle obligations or purchase goods and services.
Internal Control System
Procedures and processes implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.
Cash Receipts
The total amount of cash received by a company during a specified period from its various business activities.
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