The most important internal control for petty cash is

Question

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The use of an imprest fund ensures that a fixed amount of money is maintained in the petty cash fund, and only one individual is responsible for it. This helps to prevent overpayments and errors, and provides accountability for the use of the petty cash. Keeping cash to a minimum, securing it in a safe, and accessibility are all important, but they are not as critical as using an imprest fund.

The Most Important Internal Control for Petty Cash Is