A petty cash fund should NOT be used for
A) postage due.
B) loans to the petty cash custodian.
C) taxi fares.
D) customer lunches.

Name: A petty cash fund should NOT be used for A) postage due. B) loans to the petty cash custodian. C) taxi fares. D) customer lunches.
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Question

Quizplus · Accepted Answer

A petty cash fund is intended for small, incidental expenses that arise in the course of business. Loans to the petty cash custodian would not fall under this category and are not an appropriate use of the fund.

A Petty Cash Fund Should NOT Be Used for