CONTROLLER Definition

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CONTROLLER is usually an experienced accountant who directs internal accounting processes and procedures, including cost accounting.

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PRIME RATE is the interest rate that banks charge to their preferred customers. Changes in the prime rate influence changes in other rates; mortgage interest rates for example.

TIME DRAFT is a draft that matures either a certain number of days after acceptance or a certain number of days after the date of the draft. See SIGHT DRAFT.

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