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Answer the following questions briefly. 1) What is meant by internal control? 2) The CAR principle is a very important procedure of internal control. Can

Answer the following questions briefly.

1) What is meant by internal control?

2) The CAR principle is a very important procedure of internal control. Can you state what the acronym stands for and also briefly explain CARs purpose.

3) How do you define a Master Budget? Explain it briefly.

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