Exhibit 1A-1 -Refer to the Exhibit.What Does Point B Represent

question 50

Multiple Choice

Exhibit 1A-1

-Refer to the exhibit.What does point b represent?  

• A) x = 30, y = 60
• B) x = 60, y = 30
• C) x + y = 60
• D) x + y = 30

---

Definitions:

Petty Cash Fund

A small amount of cash on hand used for paying minor expenses to avoid writing checks for small amounts.

Journal Entry

A record in accounting that represents a transaction where at least two account balances are affected.

Cash Overage

A situation where the amount of cash on hand is greater than the expected amount, often due to errors in cash management or recording.

Internal Control System

A process implemented by management and other personnel to provide reasonable assurance regarding the achievement of objectives in effectiveness and efficiency of operations, reliability of financial reporting, and compliance with laws and regulations.