CONTROL DEFICIENCIES Definition

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CONTROL DEFICIENCIES exist when the design or operation of a control does not allow employees, in their assigned functions, to prevent or detect misstatements on a timely basis.

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INVESTMENT CAPITAL is capital realized from issuance of long term debt, common shares, or preferred shares.

PERSONAL ACCOUNTS represents money due to or due from a person or group of persons. For example, Accounts Payable - Suppliers is a personal account since this amount is payable to a supplier/suppliers.

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