Tag: understand the concept of imprest system

The amount paid to the petty cashier at the beginning of a period is known as __________ amount.

Which of the following statements is/are true ? 
(i) Cash book records all cash receipts and cash payments
(ii) Cash book records all sale and purchase transactions of goods both in cash and on credit.
(iii) Cash book records discount on cash payments
Select the correct answer from the options given below :-

Petty Cash Book may be treated as a ___________________.

Which of the following statement is false?
The petty cash book  ____________. 

Petty cash fund is supposed to be replenished at ________________. 

Debiting the petty cash book with the exact amount spent in the previous period is an example of _______________.

When Petty Cash is advanced to the Petty Cashier, the main cashier will record it on the debit side of Cash Book.

Which of the following transactions should be entered in petty cash book?

Petty cash book is considered as memorandum book.

There has been a break-in at your office and money has been stolen from the petty cash tin, which now contains only 37 rupees in coins. There are petty cash vouchers in the tin for the month to date totaling Rs.237.4. The petty cash book shows that at the start of the month, there was a balance of Rs.74.50 in petty cash, and that on the first day of the month the petty cash balance was increased to Rs.400, under an imprest system. How much money has been stolen from petty cash?