The petty cash fund should be reimbursed when it is nearing zero and at the end of the accounting period when financial statements are prepared.

Question

Quizplus · Accepted Answer

The petty cash fund should be replenished and reimbursed when it is nearing zero and at the end of the accounting period to ensure that there is always enough cash available for small expenses, and to reconcile and record all transactions in the financial statements.

The Petty Cash Fund Should Be Reimbursed When It Is