For Good Controls Over Cash Payments,the Company Officer Approving a Payment

question 78

True/False

For good controls over cash payments,the company officer approving a payment voucher should be the same as the person who ordered the goods,to ensure that the correct amount of cash is paid.

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High Risk Asset

An investment with a high potential for significant loss but also the potential for substantial rewards.

Monopoly

A firm that is the single seller in its market. Monopolies have market power because they produce a product or service without close substitutes, they have no rivals, and barriers to entry prevent other firms from entering the industry.

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