In order to hold each department manager accountable for monthly cash transactions, a business will often prepare:
A) A bank reconciliation.
B) A bank statement.
C) A cash budget.
D) Petty cash vouchers.

Question

Quizplus · Accepted Answer

A cash budget is a plan that outlines expected cash inflows and outflows for a specified period of time, usually a month. By holding each department manager accountable for staying within their allocated budget, the business can ensure that all cash transactions are accounted for and properly managed. A bank reconciliation and bank statement are related to reconciling the business's bank account, and petty cash vouchers are used to track small cash expenses.

In Order to Hold Each Department Manager Accountable for Monthly