JAMB - Accounts Principles Of Accounts (2025 - No. 20)
Which of the following is an advantage of the imprest system?
making high profits in the business
Rewarding the imprest holder
Meeting small items of expenditure
Easy preparation of the final accounts
Explanation
The imprest system is used to control petty cash. Its main advantage is efficient management of small expenses. It does not directly increase profits, reward the imprest holder, or simplify final account preparation.
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