When is a petty cash account debited?
FINANCIAL
JAMB 1994
When is a petty cash account debited?
- A. When the fund is established and every time money is spent
- B. When the fund is established and every time it is replenished
- C. When the fund is established and when the size of the float is decreased
- D. Every time money is drawn from the petty cash
Correct Answer: B. When the fund is established and every time it is replenished
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