A petty cash fund is used for small payments in order to avoid the time and cost of writing checks for small amounts.
<h3>What is petty cash?</h3>
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.
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Answer:
The answer is letter A. TRUE
Explanation:
Because under IFRS firms tipically use the cost recovery method iif they conclude that the percentage of completion method is not appropriate to account for a long term contract.
<span>A sales message or pitch with a little variation is a Canned Sales Presentation. The answer is Canned Sales Presentation because a sales message or pitch that has little variation means it has been well rehearsed, it is well organized and systemic in nature. Also Canned Sales Presentations are usually well written scripts that are meant to be adhered to and written to obtain a positive response from the prospect or customer.</span>
Answer:
1) No, the report prepared by the bookkeeper is not useful as a performance report is prepared in <em>per unit</em> <em>basis</em> not on <em>Total basis.</em>
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See performance report attached.
