Petty Cash Is Funded By_______

question 4

Multiple Choice

Petty Cash is funded by_______ .

• A)Writing a check in QuickBooks and cashing it at the bank
• B)Making a withdrawal from checking at the bank and recording a Transfer of Funds
• C)Entering a balance when creating the Petty Cash account
• D)Either A or B

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Definitions:

Present Value

The modern equivalent value of a future monetary sum or cash flow sequence, with an established return rate.

Interest Rate

The percentage charged on a loan or paid on deposited funds, representing the cost of borrowing or the gain on savings.

Future Value

The value of a current asset at a specified date in the future based on an assumed rate of growth.

Present Value

The current valuation of a future financial sum or stream of payments, factoring in a set rate of return.