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N1/E3.7 Rounding money It's useful to be able to round amounts of money when shopping or comparing prices. Have a go at rounding these amounts of money: Item Cost Burger and chips Rounding the cost
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Visit the BBC website and search for the rounding money section.
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Rounding money is a financial process used to simplify transactions by rounding the amount to the nearest currency unit.
Any business or individual that deals with cash transactions may be required to file rounding money with the appropriate authorities.
Rounding money forms can be filled out manually or electronically, depending on the regulations set by the governing authority.
The purpose of rounding money is to streamline financial transactions and reduce the need for dealing with small change.
Information such as the total amount of rounded money transactions, the method used for rounding, and any relevant details must be reported on rounding money forms.
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