Petty Cash Book | Baamboozle - Baamboozle | The Most Fun Classroom Games!

English 9 Public

accounting

Study Slideshow

Define petty cash book

To record small cash transactions

20

State one advantage of the imprest system of petty cash.

keep track of petty cash expenditure (any acceptable reason)

25

In what situation we will issue debit note?

undercharge / to inform the seller the goods have returned

20

What is imprest system

fixed amount of cash is allocated to a petty cash fund

25

The purpose of issuing statement of account.

To summarised transactions for the month

20

What is credit Note

to acknowledge the goods being returned

20

State a reason for maintaining a petty cash book.

to reduce fraud (any acceptable reason)

20

The imprest amount is $100. The balance b/d is $23, how much need to restore?

$77

20

State the purpose of issuing invoice

Purchase / sale of goods on credit

20