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 be equal to the cash in the petty cash box plus the value of outstanding petty cash vouchers. This is because the petty cash vouchers represent the expenses that have been paid from the fund but have not yet been reimbursed with cash, so their value should be added to the cash in the box to get the total value of the fund.

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