Which one of the following statements about an imprest system of petty cash is correct?
A、An imprest system for petty cash controls small cash expenditures because a fixed amount is paid into petty cash at the beginning of each period.
B、The imprest system provides a control over petty cash spending because the amount of cash held in petty cash at any time must be equal to the value of the petty cash vouchers for the period
C、An imprest system for petty cash can operate without the need for petty cash vouchers or receipts for spending.
D、An imprest system for petty cash helps with management of small cash expenditures and reduces the risk of fraud
A、An imprest system for petty cash controls small cash expenditures because a fixed amount is paid into petty cash at the beginning of each period.
B、The imprest system provides a control over petty cash spending because the amount of cash held in petty cash at any time must be equal to the value of the petty cash vouchers for the period
C、An imprest system for petty cash can operate without the need for petty cash vouchers or receipts for spending.
D、An imprest system for petty cash helps with management of small cash expenditures and reduces the risk of fraud
【参考答案及解析】
An imprest system for petty cash helps with management of small cash expenditures and reduces the risk of fraud. The amount paid in to replenish petty cash at the beginning of each period should be the amount of petty cash spending in the previous period, which is the total of expenditures shown by petty cash vouchers for the previous period. The amount of petty cash at any time is the maximum petty cash balance minus the value of the petty cash vouchers for the period.
An imprest system for petty cash helps with management of small cash expenditures and reduces the risk of fraud. The amount paid in to replenish petty cash at the beginning of each period should be the amount of petty cash spending in the previous period, which is the total of expenditures shown by petty cash vouchers for the previous period. The amount of petty cash at any time is the maximum petty cash balance minus the value of the petty cash vouchers for the period.