An Inmate Is Able to Escape from a Local Prison

question 8

True/False

An inmate is able to escape from a local prison because a security guard left a gate open.The jail owes the same duty of care to a local farmer who is assaulted by the inmate minutes later as it does to a gas station owner who operates 750 kilometres away and is robbed three months later.

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Definitions:

Petty Cash

A petty cash reserve intended for settling small expenses that don't justify the use of a check.

Cash Over and Short

An account used to report a discrepancy between the physical cash counted and the expected amount in a company's records, representing either an excess or shortage.

Journal Entry

The record of a financial transaction in an accounting system whereby debits and credits are made to various accounts to maintain balance.

Petty Cash

A small amount of cash kept on hand for making immediate payments for small expenses.