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Identify/define and explain the significance of the following: Thermidorian reaction.
Internal Control
Systems and procedures designed to ensure the accuracy and reliability of financial reporting, compliance with laws and regulations, and effective and efficient operations.
Voucher Register
A record of vouchers that have been prepared, authorized, and paid; it serves as a chronological record of business transactions.
Petty Cash
A small amount of cash kept on hand in a business for making everyday, minor expenditures.
Cash Reserve
Funds that a company sets aside to meet short-term and emergency funding needs.
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