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The most common imprest system is the ______ system
- APetty cash
- BCash book
- CCash receipts journal
- DDiscount
Correct answer: A
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Petty cash
The most common imprest system is the Petty cash system. The base characteristic of an imprest system is that a fixed amount is reserved, which after a certain period of time or when circumstances require, because money was spent, it will be replenished.
The most common imprest system is the Petty cash system. The base characteristic of an imprest system is that a fixed amount is reserved, which after a certain period of time or when circumstances require, because money was spent, it will be replenished.