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Thom's mother had a terrible day at work and when she got home, snapped at him because he had not finished his homework. This illustrates the impact of the
Internal Control
Processes and practices implemented to safeguard a company's assets, ensure financial reporting accuracy, and comply with regulations.
Customer's Ledger
A detailed record keeping of all transactions between a business and its customers, often part of the accounts receivable.
General Ledger
A comprehensive set of accounts that records all financial transactions of a business, used to prepare financial statements.
Accounts Receivable
Funds due to a company from its clients for goods or services rendered but payment has not been received yet.
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