A surprise count of petty cash by the auditor should find the total of __________ equal to the amount authorized for the fund.

Question

Quizplus · Accepted Answer

Petty cash vouchers are the only appropriate documentation for petty cash transactions, so a surprise count of petty cash should find cash and petty cash vouchers equal to the amount authorized for the fund. Credit memos and checks are not necessarily linked to petty cash transactions and may not be present in the petty cash fund.

A Surprise Count of Petty Cash by the Auditor Should