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QUESTION 1 (12 marks) Answer the following in 5 sentences or less: a)What is a debit memorandum with reference to a merchandising business?(3 marks) b)Why

QUESTION 1 (12 marks)

Answer the following in 5 sentences or less:

a)What is a debit memorandum with reference to a merchandising business?(3 marks)

b)Why do we need to close all the temporary accounts at the end of the accounting year?(3 marks)

c)List the three (3) common factors that lead to employees' fraud in an organization.(3 marks)

d)What is a petty cash imprest system?

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