OPEN ALLOTMENT Definition

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OPEN ALLOTMENT is where there is no restriction as to an amount that may be taken from that which is being allotted.

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ENVIRONMENT, in an accounting control assessment, is the attitude, awareness, and actions of the board, management, owners, and others about importance of control. It
includes integrity and ethical rules, commitment to competence, board or audit committee participation, organization structure, assignment of authority and responsibility, and human resource policies and practices.

VALUE CREATION is performing activities that increase the value of goods or services to consumers.

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