Companies should use petty cash funds to

Question

Quizplus · Accepted Answer

Petty cash funds are generally used for minor business expenses such as buying office supplies, paying for small repairs or maintenance, or reimbursing employees for small purchases made on behalf of the company. Using them for employee parties or small gifts would not be appropriate. Petty cash is also not typically used to keep track of postage stamp usage, as there are other methods for tracking postage expenses. While taxi usage or rental cars may be considered a minor expense, it is not a universal practice to assign such expenses to petty cash, so it does not apply in all cases. Therefore, the best and most appropriate option is to use petty cash funds to pay for minor business expenses.

Companies Should Use Petty Cash Funds to