Question

requirement 1. explain the characteristics and the internal control features of an imprest fund. an imprest fund has blank balance at all times, which equals the sum of blank plus the blank that support payments from the fund. the internal control feature of an imprest fund is that a blank the amount of money for which the fund custodian is responsible. petty cash tickets petty cash ticket number item amount 101 supplies $ 40 102 cab fare for executive 25 103 delivery of package across town 20 104 business dinner 95 105 merchandise inventory 140

Explanation:

An imprest fund has a fixed balance at all times. This balance equals the sum of the cash on - hand plus the total of the petty - cash tickets (which support payments from the fund). The key internal control feature is that the custodian is responsible for a fixed amount of money, and the sum of cash and tickets should always equal the original imprest amount.

Answer:

fixed; cash on - hand; total of the tickets; fixed amount of money for which the custodian is responsible