KRONUR (KRONA) Definition

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KRONUR (KRONA)is a currency of Iceland.

Learn new Accounting Terms

PERPETUAL INVENTORY is an inventory accounting system whereby book inventory is kept in continuous agreement with stock on hand. A daily record is maintained of the dollar amount and physical quantity. There are periodic physical inventories taken to reconcile at short intervals.

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

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