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A General Standard of Business Practice That Can Be Applied

question 95

Multiple Choice

A general standard of business practice that can be applied equally to all countries over and above their local customs and social norms is called a _____.


Definitions:

Voucher

A document representing an internal intent to make a payment to an external entity, detailing the specifics of the transaction.

Liability

A financial obligation or amount owed by a business to others, such as loans, accounts payable, or mortgages.

Money Orders

A payment order for a pre-specified amount of money; it functions as a form of prepaid payment instrument.

Cash

Liquid assets held or accessed by an entity for transactions, funding liabilities, and operational purposes.

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