The Use of Prenumbered Documents Is Important to a Good

question 104

True/False

The use of prenumbered documents is important to a good system of internal control.

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Definitions:

Discriminate

To make a distinction in favor or against someone or something based on the group, class, or category rather than according to actual merit.

Authorized Credit Limit

The maximum amount of credit that a financial institution permits a borrower to use under a line of credit.

Credit Card Charged

A financial transaction where a credit card holder authorizes the transfer of funds from their account to a merchant for payment of goods or services.

Tangible Property

Physical assets that can be seen, touched, and valued, such as real estate, equipment, and goods.