Indicate Whether Each of the Following Items Regarding Petty Cash

True/False

Indicate whether each of the following items regarding petty cash is true or false.a)________ The establishment of a petty cash fund is an asset use transaction.b)________ The replenishment of a petty cash fund is an asset source transaction.c)________ At any time, the total of the petty cash vouchers plus the remaining coins and currency should equal the balance of the Petty Cash ledger account.d)________ If a cash shortage occurs, revenue is recognized.e)________ When petty cash is disbursed, there is no effect on the financial statements.