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Listed below are several pervasive control plans discussed in Chapter 8.On the blank line to the left of each control plan,insert a "P" (preventive),"D" (detective),or "C" (corrective)to best classify that control.If applicable,more than one code may be inserted for each plan.
Face Value
The nominal or original value stated on a financial instrument, such as a bond or stock certificate.
Gross Pay
The total amount of money earned by an employee before any deductions or taxes are taken out.
Deductions
Amounts subtracted from gross income to determine taxable income, including expenses, exemptions, and allowances.
Long-Term Liabilities
Financial obligations of a business that are due more than one year in the future.
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