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Which of the following is used by many companies to separate cash duties and establish stronger control over cash receipts?
Court
A governmental institution with the authority to adjudicate legal disputes, applying and interpreting law in civil, criminal, and administrative matters.
Credit Risk
The risk of loss arising from a borrower's inability to repay a loan or meet contractual obligations.
Payment Default
The failure to meet the legal obligations of a loan, such as not making the agreed-upon monthly payments.
Loan Principal
The initial size of the loan or the amount of money borrowed that is still owed, not including interest.
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