review the following statements regarding a petty cash fund used in a business and select the one that is…

review the following statements regarding a petty cash fund used in a business and select the one that is correct. a check written against the fund is cashed when the fund is replenished. a petty cash fund is controlled by top management. the cashier of a fund will write checks for small payments like postage, supplies and deliveries. only the petty cashier is responsible for paying cash from the fund.

review the following statements regarding a petty cash fund used in a business and select the one that is correct. a check written against the fund is cashed when the fund is replenished. a petty cash fund is controlled by top management. the cashier of a fund will write checks for small payments like postage, supplies and deliveries. only the petty cashier is responsible for paying cash from the fund.

Answer

Brief Explanations:

  • A: Checks aren't cashed when fund is replenished.
  • B: Usually not controlled by top - management.
  • C: Petty cash is for cash payments, not check - writing by cashier for small items.
  • D: Only the petty cashier is responsible for paying out cash from the petty cash fund, which is correct.

Answer:

D. Only the petty cashier is responsible for paying cash from the fund.