Multiple Choice
The balance of petty cash is?
A) An asset
B) A liability
C) An expense
D) An income
Correct Answer:

Verified
Correct Answer:
Verified
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