An imprest fund accounting system can be used to minimize

Question

Quizplus · Accepted Answer

An imprest fund accounting system involves keeping a small amount of cash on hand for small expenses and regularly replenishing it with the exact amount spent. This minimizes the risk of theft of petty cash because there is a limited amount available and a record of all transactions. It does not directly address fraudulent financial reporting, theft of company checks, or fraudulent returns.

An Imprest Fund Accounting System Can Be Used to Minimize