Accounting & Financial Services - PETTY CASH

What term is used for the money the general cashier advances to the Petty Cash?

• Float

• Disbursement

• Cheque

• Expense

When the Petty Cashier makes a payment he/she prepares a petty cash:

• Bill

• Account

• Voucher

• Book

On which side of the petty cash book is the amount the petty cashier pays out for expenses recorded?

• Analysis

• Credit

• Debit

• Summary

If $500.00 is set aside as the petty cash fund and during the month a sum of $2.00 was collected from a staff member in payment of a personal telephone call and the total of $38.00 was spent on small items, what amount was required to restore the imprest?

• $36.00

• $38.00

• $40.00

• $460.00

At the beginning of the month the imprest was $100.00. During the month payments of $5.00 for stationery and $10.00 for office expenses were made. What amount was reimbursed to the petty cashier to restore the original amount?

• $115.00

• $100.00

• $85.00

• $15.00

Deciding on where to place expenses in the petty cash book is known as:

• analysis

• expenses

• sub total

• balance

The sum of the categories is placed in the petty cash book as

• analysis

• expenses

• sub total

• balances

When the figure that is taken to the next period to be added to the new amount to be given by the general cashier is:

• analysis

• expenses

• sub total

• balance

Which of the following is NOT a group of categories used in the petty cash book?

• stationery, travel, carriage, office, sundries

• stationery, travel, carriage, office, miscellaneous

• stationery, travel, postage, office, sundries

• stationery, travel, carriage, office, expenses

What is to be done when more money than what was spent is to be given by the general cashier for the float?

• Restore Imprest

• Increase Imprest

• Decrease Imprest

• Balance Imprest