ITEMIZED STATEMENT Definition

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ITEMIZED STATEMENT is a record or transmittal that details product or services rendered and the costs incurred and payments received.

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PETTY CASH, normally, is an account and location where tangible cash is stored for usage in purchasing or the reimbursing of inexpensive out-of-pocket expenditures.

ADEQUATE DISCLOSURE is sufficient information in footnotes, as well as financial statements, indicative of a firms financial status.

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