menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Financial Accounting
  4. Exam
    Exam 43: Fundamentals of Accounting: Objectives, Concepts, and Principles
  5. Question
    The Balance of Petty Cash Is
Solved

The Balance of Petty Cash Is

Question 25

Question 25

Multiple Choice

The balance of petty cash is?


A) An asset
B) A liability
C) An expense
D) An income

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q20: Which of the following explains the imprest

Q21: Drawings account is the nature of<br>A)Personal Account<br>B)Real

Q22: Cash discount is provided?<br>A)Early payment<br>B)Late payment<br>C)Bulk purchase<br>D)Bulk

Q23: The opening stock is shown in:<br>A)Trading Account<br>B)Profit

Q24: The term "compound entry" means that the

Q26: Entry representing the reversal or cancellation of

Q27: Errors of carry forward from one year

Q28: In India, a company can keep its

Q29: Assets are usually valued under which basis?<br>A)Replacement

Q30: It is generally assumed that the business

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines