Examlex
Which of the following statements is true?
Accounting Records
Documents and books that keep track of all financial transactions of a business or individual.
Internal Control
Procedures and processes implemented by a company to safeguard its assets, ensure financial reporting accuracy, and promote operational efficiency.
Assets
Economic resources controlled or owned by a person or company, expected to provide future benefits.
Misappropriation
The intentional, illegal use of another's funds or property for one's personal use.
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