CASH IN BANK literally means coin, currency, and cash items on deposit.
FUNCTIONAL-BASED ACCOUNTING focuses on organizational units such as departments and plants, uses financial outcome measures and static standards and benchmarks to evaluate performance, and emphasizes status quo and organizational stability. On the other hand, activity-based accounting focuses on processes, uses both operational and financial measures and dynamic standards, and emphasizes and supports continuous improvement. Activity-based accounting adds a process perspective.
ENROLLED AGENT (EA) is any individual who is enrolled under the provisions of Treasury Department Circular No. 230 to practice before the IRS.
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