The Petty Cash account is a separate chequing account used for small amounts.
Correct Answer:
Verified
Q23: Outstanding cheques are cheques the bank has
Q24: Basic services provided by banks such as
Q25: Small differences between cash sales and the
Q26: The journal entry for petty cash reimbursement
Q27: Internal control over cash receipts ensures that
Q29: All monies disbursed from petty cash should
Q30: At the end of the day, the
Q31: EFT is the use of electronic communication
Q32: A cheque involves three parties: the maker,
Q33: The payee is the person who signs
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