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Understand the concept of imprest system - class-IX
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The amount paid to the petty cashier at the beginning of a period is known as __________ amount.
AnswerClick to flip back
A
Imprest
💡 Explanation:
Imprest - It is a fund used by a business for small items of expenditure, and restored to a fixed amount periodically.
Hence, a petty cash book is kept on the imprest amount.