A petty cash fund should be replenished
A) every day.
B) at the end of every accounting period.
C) once a year.
D) as soon as an expense is paid from the fund.

Question

Quizplus · Accepted Answer

A petty cash fund is typically replenished at the end of every accounting period to ensure that the fund is restored to its original amount and all expenses paid out of the fund are properly recorded in the accounting records. This helps maintain accurate financial records and ensures there is enough cash on hand for minor expenses.

A Petty Cash Fund Should Be Replenished