Which of the following statements is true?
A) Petty cash limits tend to smaller in small organizations and higher in larger organizations.
B) Actual disbursement of cash is the responsibility of the accounts payable department.
C) Cash disbursements to a vendor may not be made from petty cash.
D) It is not wise to "net out" a payable to and a receivable from a trading partner.

Question

Quizplus · Accepted Answer

The Answer of Which of the following statements is true?
A) Petty cash limits tend to smaller in small organizations and higher in larger organizations.
B) Actual disbursement of cash is the responsibility of the accounts payable department.
C) Cash disbursements to a vendor may not be made from petty cash.
D) It is not wise to "net out" a payable to and a receivable from a trading partner.

Which of the Following Statements Is True