When it comes time to replenish petty cash, how should it occur?
A) It should be replenished in even $100 increments.
B) It should be replenished to the projected amount needed by its manager.
C) It should be replenished by totaling its receipts.
D) It should be replenished during the adjustment process routinely, regardless of its use.

Question

Quizplus · Accepted Answer

Petty cash should be replenished by totaling its receipts, as this ensures that the amount being replenished accurately reflects the actual use of the funds. This helps to prevent over or underfunding of the petty cash fund, and ensures that it remains an effective tool for small, everyday expenses.

When It Comes Time to Replenish Petty Cash, How Should