Petty Cash

What is the purpose of a petty cash voucher?

• To record large business transactions.

• To record how much money is taken from the petty cash box.

• To record employee salaries.

• To record bank deposits.

What is a bank deposit slip?

• A document used to record petty cash expenses.

• A document used to deposit money into a bank account.

• A document used to withdraw money from a bank account.

• A document used to record sales transactions.

What is the initial amount of petty cash in Sebastian's business?

• $21.50

• $30.00

• $50.00

• $13.50

What is the total amount of other expenses in the petty cash book example?

• $5.00

• $13.50

• $21.50

• $0.00

What is the amount paid for biscuits in the petty cash book example?

• $4.00

• $4.50

• $5.00

• $2.50

What is the amount rejected for the staff lunch on August 3rd?

• $7.50

• $5.00

• $10.00

• $19.95

What should an employee do if they find out an employee took money out of the petty cash fund without a voucher?

• Ignore the situation

• Report to the boss

• Balance the fund herself

• Ask the employee to return the money

To calculate the petty cash reimbursement amount we...

• add up all amounts paid in a period

• add up all amounts received in a period

• make a cash advance

• determine if over or under

Money used to fund the establishment of petty cash is known as

• petty cash advance

• petty cash reimbursement

• petty cash voucher

• petty cash balancing

When petty cash vouchers/receipts are totalled periodically this is

• petty cash advance

• petty cash reimbursement

• petty cash voucher

• petty cash balancing