WorksheetsPetty Cash Management Quiz
Total questions: 39
Worksheet time: 20mins
The document showing how petty cash was spent is submitted to request:
Salary
Allowance
Reimbursement
Tax relief
The analysis column labeled “Stationery” will typically include which of the following?
Office pens
Factory tools
Fuel
Repairs
What is the term used when a petty cashier returns a record of expenses for review?
Retirement of imprest
Reconciliation
Loan adjustment
Balancing
The imprest system of petty cash ensures that:
Cash is increased monthly
Expenses are eliminated
Petty cash is fixed and replaced after use
Accounts are frozen after each month
What is the primary reason for keeping a separate petty cash book?
To duplicate records
To increase accounting workload
To reduce entries in the main cash book
To confuse petty staff
How frequently is a petty cash book usually balanced?
Once a year
Weekly or monthly
Daily
It is never balanced
Petty cash is best used for:
Buying land
Long-term projects
Major investments
Minor expenses like postage and transport
Which of the following is not considered part of the petty cash expenditure process?
Buying stamps
Recording refreshments
Paying rent
Buying envelopes
Who typically authorizes the payment of petty cash expenses in an imprest system?
Petty cashier
Main cashier
Auditor
Manager
Spending petty cash on various minor purchases is referred to as:
Adjustment
Imprest issue
Revaluation
Retirement of imprest
What kind of account is the petty cash book classified as?
Ledger
Final account
Journal
Trial balance
What section of the petty cash book holds a short note explaining why the money was spent?
Imprest column
Amount column
Details column
Cash balance
What happens when the petty cashier requests reimbursement?
The imprest is decreased
Petty cash is withdrawn
Petty cash is topped up
Income is declared
The side of the petty cash book where received funds from the main cashier are recorded is the:
Credit side
Debit side
Analysis column
Journal entry
If the set imprest is $100 and the petty cashier spends $65, what should be reimbursed?
$100
$65
$35
$165
Which of the following would not usually appear in a petty cash analysis column?
Refreshments
Insurance
Transport
Postage
Which entry shows that a petty cashier has received money for small office expenses?
Credit purchase
Revenue from sales
Cash from main cashier
Profit from investment
What type of document is mainly required to start recording entries in a petty cash book?
Bank statement
Petty cash vouchers
Sales journal
Credit note
The column that shows the full cost of a petty expense before it’s split into categories is called:
Debit column
Analysis column
Total amount column
Details column
The imprest amount is recorded in the petty cash book as a:
Loan
Payment
Receipt
Expense
What principle justifies keeping a petty cash book for small expenditures?
Matching principle
Entity concept
Going concern
Principle of materiality
The role responsible for managing day-to-day petty cash entries is the:
Chief accountant
Treasurer
Auditor
Petty cashier
What is the term for maintaining a fixed amount of petty cash by topping it up after use?
Imprest system
Flexible budgeting
Cash control
Expenditure scheme
When a petty cash transaction is supported by a paper slip or form, it is known as a:
Receipt
Invoice
Voucher
Guarantee
What does the voucher number in a petty cash book indicate?
The price of the item
A reference to the source document
Amount paid
List of items needed
The first thing to record when starting a petty cash book is:
Payment entries
Expense totals
Imprest received
Reimbursements
Which of these is an example of an expense typically recorded in the petty cash book?
Machinery purchase
Rent payment
Stationery
Salaries
Why is it important to check petty cash balances regularly?
To increase cash supply
To maintain tax records
To avoid errors and ensure accuracy
To reduce profits
The purpose of a petty cash book is mainly to record:
Sales and purchases
Minor everyday business expenses
Credit transactions
Investment activities
In the imprest system, when the original amount is spent and replaced, the process is called:
Withdrawal
Income distribution
Reimbursement
Disposal
What is the main purpose of a cash book in business?
Recording goods in stock
Recording cash receipts and payments
Recording employee attendance
Preparing tax reports
Which of the following are types of cash books used in business?
General and private
Single and double entry
Single column and three column
Ledger and journal
In a cash book, which column is used to record funds held in the bank?
Cash column
Expense column
Bank column
Credit column
What is a contra entry in the cash book?
An incorrect entry
A transfer between cash and bank columns
A discount transaction
An overpayment
What name is given to the discount offered for quick payment by a buyer?
Trade discount
Prompt payment reward
Bulk discount
Cash discount
What is the job of a proofreader?
Drawing business logos
Designing book covers
Correcting errors in written text
Creating advertisements
Why are alphabetic sentence drills practiced during typing lessons?
To learn spelling
To improve typing speed and accuracy
To test grammar
To learn sentence writing
When proofreading, what does the term “stet” mean?
Remove the word
Move the text up
Ignore the correction (let it stand)
Add punctuation
What is a brief typing activity lasting 5 to 10 minutes called?
Speed test
Typing tutorial
Copy typing
Timing drill
