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    Financial Accounting
  4. Exam
    Exam 8: Internal Control and Cash
  5. Question
    An Imprest System Is a Way to Account for Petty
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An Imprest System Is a Way to Account for Petty

Question 96

Question 96

True/False

An imprest system is a way to account for petty cash by maintaining a constant balance in the petty cash account,supported by the fund (cash plus petty cash slips)totalling the same amount.

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