A petty cash fund should not be used for
A) postage due.
B) loans to the petty cash custodian.
C) taxi fares.
D) customer lunches.

Question

Quizplus · Accepted Answer

Petty cash funds are designed to be used for small, everyday expenses such as postage, taxi fares, and small office supplies. It is not appropriate to use the petty cash fund to make a loan to the custodian or to pay for customer lunches, as both of these purposes exceed the intended use of the fund.

A Petty Cash Fund Should Not Be Used for