When companies use debit cards for purchases of relatively small amounts:
A)employees who need to make the purchases may obtain permission from a supervisor to use the company's debit card.
B)supervisors do not require receipts for the small purchases because prior approval was given.
C)a petty cash fund is still needed.
D)the employee who used the debit card compares the receipts to the EFT amounts on the bank statement.

Question

Quizplus · Accepted Answer

D  Employees need permission to use the company's debit card, and the employee who used the debit card should compare receipts to the EFT amounts on the bank statement to ensure accuracy and accountability.

When Companies Use Debit Cards for Purchases of Relatively Small