Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 26 - No. 23)
Which of the following is a key advantage of using the Imprest System for petty cash?
It allows for large and unpredictable expenses.
It simplifies reconciliation of petty cash expenditures.
It eliminates the need for petty cash vouchers.
It minimizes the need for detailed record keeping.
Explanation
The Imprest system makes it easy to reconcile petty cash.
Comments (0)
