Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 9 - No. 46)
Which of the following are the characteristics of a petty cash book?
a) It is maintained for a short time period.
b) It is used to record the small amount of expenses paid.
c) It is maintained for a long time period.
d) The cash is managed by a high ranking manager.
Explanation
The petty cash book is used for a short time period to record small amounts of expenses.
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