Question

Describe what a petty cash fund is by completing the following sentence. A petty cash fund is used for (large/small) payments in order to (increase/avoid) the time and cost of writing checks for (large/small) amounts

Answer 1

A petty cash fund is used for small payments in order to avoid the time and cost of writing checks for small amounts.

What is petty cash?

A petty cash fund is a small amount of cash, used to pay for minor expenses, such as office supplies or employee reimbursements.

It is the pet a actual ledger book, rather than a computer record.

Hence, a petty cash fund is used for small payments in order to avoid the time and cost of writing checks for small amounts.

Learn more about petty cash here : brainly.com/question/6893535

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