Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 10 - No. 44)
In the imprest system, the total amount of cash paid out and the amount remaining to be reimbursed should be equal to the imprest for each period. This is a step in what process?
a) Reconciliation of the cash account.
b) Balancing the petty cash book.
c) Setting up the imprest amount.
d) All of the above.
Explanation
Balancing the petty cash book.
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