INTERNAL CONTROL WEAKNESS Definition

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INTERNAL CONTROL WEAKNESS is a defect in the design or operation of internal controls.

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DISCOUNTED PAYBACK is the period of time required to recover initial cash outflow when the cash inflows are discounted at the opportunity cost of capital.

WRITE-UP is the increase in value of an asset, but it is seldom used and is not allowed in GAAP (Generally Accepted Accounting Principles).

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