Petty Cash Book

Petty Cash Book

10 Qs

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Petty Cash Book

Petty Cash Book

Assessment

Quiz

others

Easy

Created by

Nathalie Alexander

Used 2+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary purpose of a petty cash book?
To record sales transactions
To manage employee salaries
To track small, everyday expenses
To track large business expenses

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a typical expense recorded in a petty cash book?
Rent payments
Office supplies
Employee salaries
Utility bills

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a business spends $50 on office supplies and $20 on coffee for meetings, how much should be recorded in the Cash Out section?
$30
$70
$50
$20

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What can be inferred about a business that does not keep track of petty cash expenses?
It does not use petty cash at all
It is likely to have high profits
It may struggle with budgeting and financial accuracy
It has a strong financial management system

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In what way does using a petty cash book differ from other financial record-keeping methods?
It simplifies tracking small expenses
It requires no documentation
It is only for large transactions
It is used for payroll management

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the two main sections of a petty cash book?
Income and Expenses
Assets and Liabilities
Cash In and Cash Out
Debits and Credits

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does a petty cash book help with budgeting?
By tracking large investments
By showing where small expenses are going
By eliminating all expenses
By increasing cash flow

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