Examlex
The processing of the sense of taste differs from most other senses, because taste information travels to the cortex before it travels to the thalamus.
Past Due Account
An account that has not been paid by the deadline, resulting in overdue payments.
Accounting Equation
The fundamental formula in accounting that represents the relationship between assets, liabilities, and equity: Assets = Liabilities + Equity.
Voucher System
A set of procedures that uses vouchers for authorizing and recording liabilities and cash payments.
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.
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