INVENTORY TURNOVER Definition

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INVENTORY TURNOVER is a ratio that shows how many times the inventory of a firm is sold and replaced over a specific period.

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CENT is a currency of: United States of America, Sierra Leone, China, South Africa etc.

INCOMPATIBLE DUTIES arise in internal control systems because positive control relies on separation of duties to reduce the chance of errors or fraud. Duties are incompatible if they should be separated for control. For example, one person should not be in a position to both embezzle funds and to hide that embezzlement by changing the recorded accountability.

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