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Pointing to medieval paintings in which children were portrayed with mature faces and participating in the same work and play activities as adults,French historian Philippe Ariès made the argument that:
Payments
Payments refer to the transfer of money from one party to another, often as compensation for goods or services.
Petty Cash Fund
A small amount of cash kept on hand within a business for minor and immediate expenses.
Internal Control
Initiatives and standards implemented by a firm to assure the correctness of financial and accountancy details, encourage integrity, and obstruct fraudulent activities.
Journal Entries
The method by which all business transactions are initially recorded, using a system of debits and credits, to maintain the financial records of an entity.
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