IMPREST BASIS Definition

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IMPREST BASIS, in cash accounts, means that the exact amount of fund expenditures is replaced periodically.

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WARRANTY is a guarantee given to a buyer from a seller that the goods or services purchased will perform as promised, or a refund will be given, repair will be done at no charge, or an exchange made.

INCORRECT REJECTION, in accounting, is the risk the sample supports the conclusion that the recorded balance is materially misstated when it is not materially misstated.

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