A Special Ledger Account Entitled "Change Fund" Is Used to Keep

question 59

True/False

A special ledger account entitled "Change Fund" is used to keep track of day-to-day shortages and overages of cash.

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Definitions:

Cheque

A written, dated, and signed instrument that directs a bank to pay a specific sum of money to the bearer.

Honour

A quality that combines respect, being esteemed, and a sense of ethical conduct.

Bill of Exchange

A written, unconditional order by one party directing another party to pay a specified sum of money to a third party on demand or at a future date.

Liable

Legally responsible or obligated.