SPLIT PAYMENT Definition

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SPLIT PAYMENT allows the customer to: a. pay part of the bill with cash and part with a credit card; or, b. apply portions of payments across several invoices.

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SEGREGATION OF DUTIES means assigning different people the responsibilities of authorizing transactions, recording transactions, and maintaining custody of assets. Segregation of duties reduces the opportunities for one person to both perpetrate and conceal errors or fraud.

RECEIVING is to get something or come into possession of something. In a company it can be a location where goods are received.

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