PROCESSING CONTROL Definition

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PROCESSING CONTROL, in accounting, is an internal control included in computer software designed to assure that all transactions are handled as authorized and none omitted or added.

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SHORT TERM ASSET is an asset expected to be converted into cash within the normal operating cycle (usually one year), e.g. accounts receivable and inventory.

CHURN RATE is the percentage of customers (e.g., cellular telephone subscribers) that cancels their service per month.

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