Chapter 11 Keywords

Question 1

Impress Amount

Answer 1

The amount to which the petty cash float is topped up at the end of a period of time

Question 2

Imprest System

Answer 2

A petty cash system whereby the petty cash box is always topped up to the same amount at the end of each week or month

Question 3

Petty Cash Book

Answer 3

The book of prime entry used to record the petty cash vouches and any money paid into the petty cash box

Question 4

Petty Cash Float

Answer 4

The amount of cash held in the petty cash box at any one time

Question 5

Petty Cash Voucher

Answer 5

The document that must be completed and authorised before any cash can be paid out to an employee from the petty cash box