EXECUTE Definition

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EXECUTE is to carry out an internal control procedure, such as to sign and mail a check after inspecting supporting documents.

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FLOWER BOND is a U.S. Treasury bond, issued in the 1950s and 1960s, that may be tendered at par value for payment of federal estate taxes, even though its market price may be substantially less.

STABLE DOLLAR ASSUMPTION is when using money as a measuring unit and preparing financial statements expressed in dollars, accountants make the assumption that the dollar is a stable unit of measurement.

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