IMPLEMENTATION OF INTERNAL CONTROL Definition

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IMPLEMENTATION OF INTERNAL CONTROL means the auditor determines that the relevant controls exist and that the entity is using them.

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VC is Venture Capital(ist) or Variable Cost. See also VENTURE CAPITAL, VENTURE CAPITALIST or VARIABLE COSTS.

RUNNING TOTAL is the sum of any given set of numbers that is incremented/decremented as additional numbers become available over time. For example, a retail store makes sales throughout a time period; the running total is the sum of their sales, including returns/credits, at any given point of time during that time period: day, week, month, quarter, and year.

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