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Forward chaining and backward chaining both involve:
Short-Term Investments
Assets that are expected to be converted into cash or sold within one year or the operating cycle, whichever is longer.
Internal Auditors
Professional auditors who are employed by an organization to perform auditing and analysis of its operations, systems, and financial activities, ensuring compliance and identifying improvements.
Internal Control Elements
Components of a framework designed to safeguard assets, ensure financial reporting accuracy, promote operational efficiency, and encourage adherence to policies.
Efficient Funds Transfer
The process of transferring money from one bank account to another swiftly and cost-effectively.
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