DOCUMENT CONTROL Definition

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DOCUMENT CONTROL is a function or department which keeps track of all documentation, specifications and processes. The purpose is to ensure that everyone uses the correct and most current processes and specifications.

Learn new Accounting Terms

INCOME STATEMENT see PROFIT AND LOSS STATEMENT.

PROPORTIANATE UNIT CONCEPT is where a value or distribution is agreeing in amount, magnitude, or degree, e.g. a shareholder holding 1% outstanding shares of an entity is entitled to receive 1% of that entities declared dividend, i.e. it is in proportion.

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