For good internal controls over cash,all payments should be made from the petty cash,except for very large payments.

Question

Quizplus · Accepted Answer

Petty cash is typically used for small, routine expenditures such as office supplies or postage. Larger payments should be made through the regular accounts payable process, which includes proper documentation and approval to ensure appropriate internal controls over cash.

For Good Internal Controls Over Cash,all Payments Should Be Made