Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer: Appropriate expense account are debited
Explanation:
Here is the complete question:
When reimbursing the petty cash fund:
a. Cash is debited.
b. Petty Cash is credited.
c. Petty Cash is debited.
d. Appropriate expense accounts are debited.
e. No expenses are recorded
Petty cash funds are simply the little funds that is used by an organization or company to settle its minor expenses. Examples include expenses on postage stamp or snacks during meetings.
It should be noted that when reimbursing the petty cash fund, the appropriate expense account has to be debited.
The reason is that they make it more efficient to deliver necessary goods and services to consumers.
Answer:
Definition: Bancassurance means selling insurance product through banks. Banks and insurance company come up in a partnership wherein the bank sells the tied insurance company's insurance products to its clients. Description: Bancassurance arrangement benefits both the firms.
