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  • What account is used for small quick purchases?
Multiple choice

What account is used for small quick purchases?

  1. Misc Expense

  2. Petty Cash

  3. Accounts Payable

  4. Accounts Receivable

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Petty cash is a small fund of cash kept on hand for minor, incidental expenses. It allows for quick, small payments without writing a formal check.

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