All of the following are controls over petty cash except:
A)designating one employee to administer the fund.
B)supporting all fund payments with a petty cash ticket.
C)replenishing the fund through normal cash payment procedures.
D)keeping an unlimited amount of cash on hand.

Question

Quizplus · Accepted Answer

Keeping an unlimited amount of cash on hand is not a control over petty cash; it contradicts the principle of limiting the amount to minimize risk and ensure better control.

All of the Following Are Controls Over Petty Cash Except