• 1 Marks

FA – Nov 2021 – L1 – SA – Q14 – Accounting Concepts

This question identifies the fixed amount given to a petty cashier.

The fixed amount of money given to a petty cashier at the beginning of a period is called:
A. Float
B. Imprest
C. Petty cash
D. Cash received
E. Cash advance

B

Explanation:
An imprest is the fixed amount given to a petty cashier to cover minor expenses, with regular reimbursement based on receipts.

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