ACCOUNTING

JAMB 2013 - Question 11

Account 2013 JAMB Past Questions - Question 11: I. The amount of the impress is the same from one organization to another II. At the end of a fixed period, the petty cashier received a fixed sum of money. III. At the end of a period, the petty cashier is reimbursed with the amount spent in that period. IV. 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 impress system?

Choose the most appropriate option for the gap .
I. The amount of the impress is the same from one organization to another II. At the end of a fixed period, the petty cashier received a fixed sum of money. III. At the end of a period, the petty cashier is reimbursed with the amount spent in that period. IV. 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 impress system?
A:
B:
C:
D:
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Correct Answer

B

Explanation

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