A Petty Cash Fund Is Established by Making a Cheque

question 93

True/False

A petty cash fund is established by making a cheque payable to cash, cashing the cheque, and placing the funds in a safe, locked location.

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Definitions:

Activity Variances

Differences between planned or budgeted amounts of costs or revenues and actual amounts incurred, attributable to specific activities.

Customers Served

The number or segment of clients or consumers to whom a business has provided goods or services.

Budgeting

The process of creating a plan to spend your money, outlining projected income versus expenses for a certain period.

Patient-visits

The number of times patients visit a healthcare provider or facility, often used as a metric in healthcare management and planning.