A fund that contains a small amount of cash and is used to pay for minor expenditures is known as:

Question

Quizplus · Accepted Answer

The petty cash fund is specifically designed to cover small expenses, such as buying office supplies or paying for small repairs. The emergency fund is meant to cover larger, unexpected expenses, the checking account is mainly used for everyday transactions, and the cash account can be any type of account that holds cash, but it does not necessarily imply that it is specifically meant for small expenses. Therefore, C is the best choice.

A Fund That Contains a Small Amount of Cash and Is