Match the type of bank account with its definition:
-This account is typically immaterial in amount and is used for paying certain types of expenses and transactions

Question

Match the type of bank account with its definition: 
-This account is typically immaterial in amount and is used for paying certain types of expenses and transactions

Quizplus · Accepted Answer

Petty cash accounts are used for small, daily expenses and transactions. Examples can include office supplies, postage, or small purchases. These accounts are typically small in amount and are kept on hand to pay for these sorts of expenses as they arise.

Match the Type of Bank Account with Its Definition