PERSONAL LOAN Definition

PERSONAL LOAN is a short-term loan that is extended based on the personal integrity of the borrower.

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INCOME TAXES PAYABLE is income taxes due including current portion of deferred taxes.

MANAGEMENT CONTROL SYSTEM is essentially a strategic tool for holding managers accountable and responsible for their performance. Existence of such a system also provides feedback for managers to know how they perform, in which direction the organization is heading, and what type of course correction may be required to stay on course.

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