1. The amount of the imprest is the same from one organization to another
11.At the end of a fixed period, the petty cashier received a fixed sum of money.
111. At the end of a period, the petty cashier is reimbursed with the amount spent in that period.
1V. The system is a method by which a measure of control is kept on petty cash expenses.
Which of the above is correct about the imprest system?
A 1, 11 and 111
B 1, 111 and 1V
C 11 and 1V
D 111 and 1V
Answer is C
