A Petty Cash Fund, Established with a $225 Balance, Had

question 139

Multiple Choice

A petty cash fund, established with a $225 balance, had the following petty cash tickets and $14 in cash: $$\begin{array} { | l | r | } \hline \text { Office supplies } & \$ 51 \\\hline \text { Delivery expense } & 62 \\\hline \text { Postage expense } & 94 \\\hline\end{array}$$ The entry to replenish the fund would be:

• A) \[\begin{array} { | c | r | r | }
• \hline \text { Petty Cash } & 207 & \\
• \hline \text { Cash in Bank } & & 207 \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | l | r | r | }
• \hline \text { Office Supplies } & 51 & \\
• \hline \text { Delivery Expense } & 62 & \\
• \hline \text { Postage Expense } & 94 & \\
• \hline \text { Cash Short and Over } & 4 & \\
• \hline \text { Cash in Bank } & & 211 \\
• \hline
• \end{array}\]
• C) \[\begin{array} { | l | r | r | }
• \hline \text { Office Supplies } & 51 & \\
• \hline \text { Delivery Expense } & 62 & \\
• \hline \text { Postage Expense } & 94 & \\
• \hline \text { Cash in Bank } & & 207 \\
• \hline
• \end{array}\]
• D) \[\begin{array} { | c | r | r | }
• \hline \text { Cash in Bank } & 211 & \\
• \hline \text { Petty Cash } & & 211 \\
• \hline
• \end{array}\]

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Definitions:

Critical Values

Specific points on the scale of a test statistic beyond which the null hypothesis is rejected in favor of the alternative hypothesis.

Two-Tailed

A hypothesis test that allows for the possibility of an effect in two directions, either less than or greater than a specified range.

Pearson Correlation

A statistical measure that evaluates the linear relationship between two continuous variables.

Critical Values

Threshold values on the scale of a test statistic beyond which the null hypothesis is rejected.