This is a true statement. A project manager should always reward employees who are willing to work overtime even if the overtime is mandatory. They may not reward the employees with a bonus, but should be rewarded with recognition of a job well done.
Answer:
The correct options are:
- A. It is used to avoid the time and cost of writing checks for small amounts.
- C. It is established to pay for small payments like postage, shipping fees, etc.
- E. It is an asset reported on the balance sheet.
Explanation:
A Petty Cash Fund is a small amount of money that is kept on hand to be used in covering for the making of purchases that are too small to bother to write a check. Money from the petty cash fund can be used to pay for minor expenses such as postage, cab fares, shipping fees or office supplies.
Petty cash fund appears in the balance sheet on the current assets section. This is because line items in the balance sheet are sorted according to their order of liquidity. Since petty cash is highly liquid, it always appears near the top of the balance sheet.
<span>This is a price cap regulation. Because the firm cannot go over a certain price, the price is said to be capped. Regulations like this prevent firms from overcharging their customers, and promote good business ethics. It may slow the growth of the firm, but the cost comes at the benefit of the customer.</span>
