A petty cash fund is set up
A) to pay for large expenses.
B) to pay for small expenses.
C) for the owner to withdraw money for personal use conveniently.
D) None of these answers are correct.

Question

Quizplus · Accepted Answer

A petty cash fund is set up to pay for small expenses such as office supplies, postage, and other miscellaneous expenses. It is not meant to be used for large expenses or personal use by the owner.

A Petty Cash Fund Is Set Up