Asked by Benny Csillag on Jul 13, 2024
Verified
A ________ fund is used to make cash payments of small amounts to avoid the time and cost of writing checks.
Petty Cash
Petty cash is a small amount of cash on hand used for paying expenses too small to merit writing a check or using a credit card.
Cash Payments
Transactions where money is paid out by a business or individual in exchange for goods or services.
Writing Checks
The process of completing a check to make a payment from a bank account.
- Faculties for identifying and portraying the documentation and methods requisite for the control of cash and equivalents.
Verified Answer
KB
Learning Objectives
- Faculties for identifying and portraying the documentation and methods requisite for the control of cash and equivalents.
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