STRATIFY Definition

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STRATIFY is to arrange a population or a sample in distinct layers. Stratified sampling is used in auditing to select a greater percentage of accounts with high balances than of accounts with low balances.

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SIMPLE JOURNAL ENTRY is a journal entry that involves only one debit and one credit in the transaction.

COMMERCIAL BANK is a financial institution that provides commercial banking services. A commercial bank accepts deposits, gives business loans and provides other services to businesses.

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