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Accounting

Chapter 11

TermDefinition
Internal Controls Refer to procedures within the business that are designed to protect cash and other assets and to keep reliable records.
External Controls The measures and procedures provided outside the business to protect cash and other assets.
Checking Account Allows a person or business to deposit cash in a bank and to write checks against the account balance.
Check A written order from a deposit telling the bank to pay a stated amount of cash to the person or business named on the check.
Created by: 535816
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