Chapter 40 - The Petty Cash Book Flashcards
1
Q
What is petty cash?
A
Cash used to pay for small bills in a firm like taxi fares or milk for the office canteen
2
Q
What is a petty cash box?
A
A locked box in which the petty cash is usually stored
3
Q
Petty Cashier
A
Person in charge of the petty cash
4
Q
Imprest
A
Petty cash float at the beginning of a period
