The petty cash fund at Brookshire Company has a designated balance of $250. The fund currently holds $125 in cash and $127 in petty cash tickets. Based on this information, which of the following statements is correct?
A) The total of the cash on hand plus petty cash tickets equals the designated fund balance.
B) A shortage of $2 exists.
C) To replenish the petty cash fund, the company must write a check, payable to Petty Cash, for
$127.
D) The petty cash fund custodian must locate the $2 discrepancy.
D) The petty cash fund custodian must locate the $2 discrepancy.
You might also like to view...
The Internet is a more appropriate direct marketing medium for life cycle marketing than direct-response advertising is
Indicate whether the statement is true or false
What type of international nongovernmental organization’s (INGO) primary purpose is to design and implement economic development projects?
A. advocacy B. operational C. development D. implementation
Describe the process of appreciative inquiry as an OD intervention.
What will be an ideal response?
Gillette sends out a free razor to induce switching from an older model. This is an example of using ________ as the sales promotion approach.
A. product placements B. comparative parity method C. premiums D. coupons E. product sampling