What are the advantages of an imprest petty cash book?
I cheques can be drawn easily
II A cheque on the use of cash
III Liability of the petty cashier is limited to the value of petty cash
IV Loses through the petty cashier can be minimized

Similar Questions

Kudi Local Government Council incurred the following expenditure in 1995: N  Payment of salar...

The trading account is usually headed ...

(i) Meet growth and diversification need. (ii) Reach out to particular customers or markets  ...

When a share valued at 50k is issued at #1.59, it is said to be issued at ...

\(\begin{array}{c|c} & N \\ \hline \text{Opening stock of raw materials} & 8,000\\ \text{Pur...

Show how the following transaction will be recorded applying the double-entry principle: Rent ₦50...

According to the provisions of the 1999 Constitution, all revenues generated by the Federal Governme...

  Stock of finished goods: Jan 1st Dec 31st Stock of Raw materials:...

#800,000 worth of ordinary shares of 50k were issued at #1 each, payable in full on application. The...

Which of the following concepts is exposed to hold when a proprietor makes a drawing of goods or cas...