When a Petty Cash Fund has been established, which of the following relationships should be true at all times?

Question

Quizplus · Accepted Answer

The Petty Cash Fund should equal the cash in the petty cash box plus the value of all outstanding petty cash vouchers, since the vouchers represent disbursements from the fund that have not yet been reimbursed. Therefore, Option C is the correct answer as it reflects this relationship. Option A and D are not correct because they do not take into account outstanding vouchers. Option B is incorrect because it only considers the value of the vouchers and not the cash in the box. Option E is incorrect as it represents an arbitrary deduction of $100 from the fund, which is not necessarily accurate or reflective of the actual amount of cash in the box.

When a Petty Cash Fund Has Been Established, Which of the Following