ACCOUNTING I Dersi Internal Control and Cash soru detayı:
SORU:
What do you know about a petty cash fund?
CEVAP:
Instead of writing checks for small payments such as stationery, meals, etc., businesses can prefer using a petty cash fund. It is a fund that contains small cash amounts to use for small expenditures, which enables businesses not to keep large amounts of cash on hand. So, a petty cash fund is a good control, but it also needs some control procedures to be effective.