Petty Cash Book Quiz

What is the primary purpose of a petty cash book?

• To track small cash expenses for office supplies

• To record small cash transactions

• To manage cash flow for daily expenses

• To monitor cash payments for travel reimbursements

Which section of the restaurant menu lists the desserts available?

• Appetizers section

• Main course section

• Desserts section

• Beverages section

What is the process of reconciling the cash register called?

• Posting

• Journalizing

• Balancing

• Reconciling

Who is responsible for managing the cash register at the local grocery store?

• Accountant

• Financial Manager

• Bookkeeper

• Petty Cash Custodian

What is the final step in completing a purchase order?

• Calculate the total cost

• Obtain approval from the supervisor

• Verify the items received

• Record the transaction in the purchase ledger

What columns are typically recorded in a petty cash book?

• Date, Description, Amount, Balance, Credit

• Date, Description of transaction, Amount, Debit or credit, Running balance

• Date, Transaction, Cash, Debit, Credit

• Date, Description, Amount, Debit, Credit

How to record 'Receipts' in a petty cash book?

• Date: Write the date, Description: Describe the source, Amount: Record in debit, Running Balance: Add to previous balance

• Date: Write the date, Description: Describe the source, Amount: Record in debit, Running Balance: Subtract from previous balance

• Date: Write the date, Description: Describe the source, Amount: Record in credit, Running Balance: Subtract from previous balance

• Date: Write the date, Description: Describe the source, Amount: Record in credit, Running Balance: Add to previous balance

How to record 'Payments' in a petty cash book?

• Date: Write the date, Description: Describe the expense, Amount: Record in credit, Running Balance: Add to previous balance

• Date: Write the date, Description: Describe the expense, Amount: Record in debit, Running Balance: Add to previous balance

• Date: Write the date, Description: Describe the expense, Amount: Record in debit, Running Balance: Subtract from previous balance

• Date: Write the date, Description: Describe the expense, Amount: Record in credit, Running Balance: Subtract from previous balance

What is a petty cash book used to record?

• Small cash transactions

• Only inventory purchases

• Only credit transactions

• Only large expenses

Who is responsible for managing the class attendance records?

• Teacher

• Principal

• Class Monitor

• School Administrator