Cash register overages are deposited in the petty cash fund and cash shortages are made-up from the petty cash fund.

Name: Cash register overages are deposited in the petty cash fund and cash shortages are made-up from the petty cash fund.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Cash register overages are not deposited into the petty cash fund. They should be recorded as income and deposited into the business's bank account. Cash shortages, on the other hand, can be covered by withdrawing cash from the petty cash fund.

Cash Register Overages Are Deposited in the Petty Cash Fund