Which of the following is not an advantage of using an imprest payroll account?
A) It allows the delegation of payroll check- signing duties.
B) It limits the company's exposure to payroll fraud.
C) Companies have fewer banking transactions.
D) It facilitates cash management.

Question

Quizplus · Accepted Answer

An imprest payroll account is specifically designed to handle payroll transactions, which means it segregates payroll from other financial activities, thus not reducing the number of banking transactions. Instead, it helps in managing payroll funds more efficiently, limiting exposure to fraud, and allowing for delegated check-signing duties.

Which of the Following Is Not an Advantage of Using