TRACEABLE Definition

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TRACEABLE, in accounting, is to discover by going backward over the transactions (evidence) step by step establishing a "paper-trail" for a transaction. Non-traceable is where the "paper-trail" of a transaction is broken or non-existent.

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RETURN ON SALES is a measure of a companys profitability, equal to a fiscal years pre-tax income divided by total sales.

ONLINE is access to a computer for immediate processing without having to wait for a batch of transactions to be processed at a later time.

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