What is ‘Dual Control’ in Master Records?
Dual control, which means that every change made to an important field has to be confirmed by another person who is authorized to do so. The master data account is blocked from the payment run until the field change has been confirmed.
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Explain how the following transactions would be recorded in a cash book with Cash and Bank columns? i) Deposit of cash into Bank ii) Withdrawal of money from Bank for office use iii) Deposit of cheques (received from others) into Bank iv) Dishonour of cheques deposited into Bank I need a detailed answer..thanks..
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