From the following given options identify any two steps essential in establishing a petty cash fund. i)Appointing the accountant to take care of petty cash transactions ii)Appointing the treasurer iii)Appointing a petty cash custodian who will be responsible for the fund iv)Determining the size of the fund. a. ii) & iii) b. i) & iv) c. i) & ii) d. iii) & iv)
From the following given options identify any two steps essential in establishing a petty cash fund. i)Appointing the accountant to take care of petty cash transactions ii)Appointing the treasurer iii)Appointing a petty cash custodian who will be responsible for the fund iv)Determining the size of the fund. a. ii) & iii) b. i) & iv) c. i) & ii) d. iii) & iv)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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35
From the following given options identify any two steps essential in establishing a petty cash fund.
i)Appointing the accountant to take care of petty cash transactions
ii)Appointing the treasurer
iii)Appointing a petty cash custodian who will be responsible for the fund
iv)Determining the size of the fund.
a.
ii) & iii)
b.
i) & iv)
c.
i) & ii)
d.
iii) & iv)
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