1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Gala2k [10]
3 years ago
6

Which of the following is correct regarding a petty cash fund? A petty cash fund is used for minor purposes. A petty cash fund r

epresents cash on hand at the business for quick access. When cash from this fund is taken out, it should be replaced with a voucher. All of the answers are correct regarding a petty cash fund.
Business
1 answer:
Harlamova29_29 [7]3 years ago
3 0

Answer:

The correct answer is letter "D": All of the answers are correct regarding a petty cash fund.

Explanation:

Petty cash funds are sums of money that are useful for businesses to take care of small payments. These payments are too low to allow a check to be written for payment. In some businesses, each department maintains its own small cash box for expenses such as office supplies per unit.

For accounting purposes, transactions involving petty cash are documented only when the petty cash was totally spent and a new fund is to be created and recorded with a voucher.

You might be interested in
Use the data (In $Millions) below from the latest Integrated Program Management Report (IPMR) from your contractor: BCWS BCWP AC
MakcuM [25]

Answer:

a. The contractor has spent 85% of the budget.

Explanation:

Cost Performance Index measures the financial efficiency of the projects under consideration. It is a method which measures the work completed for every unit of cost spent on the project.

EAC = BAC + BCWS - BCWP

EAC = 10 + (7-6)

EAC = 11

5 0
2 years ago
Leftown is a former guest who owes the Munchies Restaurant $750 for a banquet. Restaurant managers have determined that this deb
shutvik [7]

Answer:

debit: provision for doubtful accounts

credit: accounts receivable

Explanation:

Based on the information given in a situation where the restaurant make uses of the DIRECT WRITE-OFF METHOD of accounting for bad debt expense, the appropiate journal entry to recognize this bad debt would be a debit to PROVISION FOR DOUBTFUL ACCOUNTS and a credit to ACCOUNTS RECEIVABLE.

Debit Provision for doubtful accounts $750

Credit Accounts receivable $750

4 0
3 years ago
Organizations of skilled workers who band together for bargaining power.
KengaRu [80]
Those would be unions I think
4 0
2 years ago
When the economy is in a recession, expansionary fiscal policy can be used to stimulate and encourage economic growth. Which of
kicyunya [14]

Answer:

A. The government lowers tax rates and undertakes a replacement of old bridges and roads

B. The government lowers tax rates and issues a partial refund of taxes that have already been paid

These 2 statements are correct explained below

Explanation:

A. The government lowers tax rates and undertakes a replacement of old bridges and roads, this statement is correct because when the government lowers tax rates it means that people have higher disposable income on their hands therefore they can spend more which increases demand, and people also invest more which increases supply, also the replacement of bridges and roads is improvement in infrastructure and this also increases supply as transportation is easier and cheaper for businesses.

B. The government lowers tax rates and issues a partial refund of taxes that have already been paid, this statement is correct because when the government lowers tax rates it means that people have higher disposable income on their hands therefore they can spend more which increases demand, and people also invest more which increases supply, also refund of taxes will increase the disposable money that people have so they can invest and consume both which will increase both supply and demand.

C. The government raises tax rates and reduces unemployment insurance payment

This is contraction fiscal policy and will do the opposite of expansionary fiscal policy, that is why this statement is incorrect.

D. The Federal Reserve increases the money supply and lowers the interest rate while the government simultaneously reduces future taxes. This statement is wrong because lowering the interest rate is an expansionary monetary policy and not an expansionary fiscal policy.

7 0
3 years ago
What is a product line? Why are they used and how do companies determine what to use and how to adjust what is being used?
Trava [24]
A product line is a group of related products produced by one manufacturer they use product lines to gauge trend a find out which markets to target they use whatever is being sold the most and go from there
8 0
3 years ago
Other questions:
  • What unique feature do savings bonds have?
    6·2 answers
  • The extent of job creation and job destruction is:____________
    9·1 answer
  • What does a bond's rating refer to?
    14·1 answer
  • What is the purpose of capital controls?
    9·1 answer
  • Refer to the data. Assuming the bank loans out all of its remaining excess reserves as a checkable deposit, and has a check clea
    11·1 answer
  • 2. The economic system that is found in a Communistic political system is
    12·1 answer
  • The Jackson-Timberlake Wardrobe Co. just paid a dividend of $1.05 per share on its stock. The dividends are expected to grow at
    9·1 answer
  • Inventory items with a cost of $3090 were excluded from ending inventory. These goods were in transit from Flores company to Bar
    9·1 answer
  • Which is one advantage of private insurance offered by most employers
    10·2 answers
  • _________ is/are known as the strategic coordination of the supply chain for the purpose of integrating supply and demand manage
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!