WAEC Financial Accounting 2007 Question 14

Question 14

Petty Cash

The sum of money given to a petty cashier out of which small payments are made is a/an

  1. A.bonus
  2. B.loan
  3. C.advance
  4. D.float.
Show the answer and explanation

Answer: D (float.)

Explanation

It is the petty cash float.