Asked by gillian williams on Jun 17, 2024
Verified
Expenditures from a petty cash fund are documented by a petty cash receipt.
Petty Cash Receipt
A petty cash receipt is a document used to record small cash payments for minor expenses, part of a system to manage incidental or minor office costs.
- Conceptualize the management of petty cash funds and the importance of cash management practices.
Verified Answer
CS
Clever SalgadoJun 19, 2024
Final Answer :
True
Explanation :
Expenditures from a petty cash fund are documented by a petty cash receipt, which provides evidence of the expense and the amount spent. Petty cash receipts are used to reimburse the petty cash fund and to record the transaction in the accounting records.
Learning Objectives
- Conceptualize the management of petty cash funds and the importance of cash management practices.