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Ledger (1)
LEDGER (1)

Definition: A book in which a bank, a business, etc. records the money it has paid and received.
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* All eight elements should be in.


1. Purposeful and necessary.

2. Entries are correct and complete, including other relevant but not directly related details such as recorder, signature, etc., as required.

3. Records of payments and receipts are up to date.

4. Writing or printing is legible or clear.

5. Accessible to the duly authorized inspectors/regulators/auditors.

6. Format of book is as prescribed by the industry guidelines or in the financial regulations.

7. Balanced or will be balanced as soon as required, or reconciled, where necessary, with the appropriate evidence of bank tellers and credit notes, etc. being made available to match entries.

8. Serves purpose(s), exactly as required.
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See perfect ACCOUNTANT (1).

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