The fixed amount of money given to a petty cashier at the beginning of a...
FINANCIAL
JAMB 2021
The fixed amount of money given to a petty cashier at the beginning of a period is called?
- A. Imprest
- B. float
- C. cash advance
- D. cash
Correct Answer: A. Imprest
Explanation
The word 'imprest' means 'advance amount' given to certain person to make petty payments. It is a system of petty cash book where a person (petty cashier) is given a fixed amount in the beginning of the month or week.
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