Which of the Following Is Not True

question 80

Multiple Choice

Which of the following is not true?

• A)The imprest petty cash system in effect adheres to the rule of disbursement by check.
• B)Entries are made to the Petty Cash account only to increase or decrease the size of the fund or to adjust the balance if not replenished at year-end.
• C)The Petty Cash account is debited when the fund is replenished.
• D)All of these answer choices are not true.

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Definitions:

Total Assets

The sum of all resources owned by a company, valued at cost or market value, which include both current and non-current assets.

Electric Bill

A monthly statement charging for the consumption of electrical power provided by a utility company.

Total Expenses

The sum of all costs incurred by a business or individual in a specific period.

Total Revenue

The gross income generated from the core business activities of a company, including the sale of products and services.