Match Each of the Following Terms with the Appropriate Definitions

question 201

Multiple Choice

Match each of the following terms with the appropriate definitions.
-Fundamental guidelines applicable to all companies established to minimize the risk of
fraud and theft and to increase the reliability and accuracy of the accounting records.

• A)Days' sales uncollected
• B)Gross method
• C)Receiving report
• D)Bank reconciliation
• E)Purchase order
• F)Principles of internal control
• G)Cash Over and Short
• H)Liquidity
• I)Net method
• J)Voucher system

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Definitions:

Shortage

A situation in which the demand for a good or service exceeds the supply available at a specific price.

Diagram

A graphical representation used to visualize relationships between different elements, concepts, or data in a clear and simplified manner.

Dynamic Pricing

A pricing strategy where the price of a product or service is adjusted over time based on demand, supply, and other market factors.

Economies

Pertains to the comprehensive system of production, consumption, and allocation of resources in a society.