Question discussion

Under the imprest system of petty cash, the petty cashier

2516Medium DSSSB TGT Computer Science 0 replies 1 views

Areceives a fixed sum at the beginning of a period and is reimbursed at its end for exactly the amount spent
Breceives whatever amount he asks for whenever it is needed
Ckeeps the entire cash balance of the business
Dis paid a fixed commission on the expenses he incurs

Correct answer: A

Explanation

The imprest is a fixed float; at the end of the period the head cashier restores it to the original amount by paying the sum actually spent, which gives good control over small expenses.

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