When a System Allows the Copying Information from an Existing

question 25

True/False

When a system allows the copying information from an existing document, such as a purchase order, it saves time and reduces the opportunity for error.

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Definitions:

Petty Cash Fund

A small amount of cash kept on hand for making immediate payments for minor expenses.

Cash Over and Short

An account that records the discrepancies between the actual cash received and the expected amount.

Petty Cash Fund

A small amount of cash on hand used for paying expenses too small to merit writing a check.

Petty Cash

A small amount of cash kept on hand used for paying small expenses without writing a check or using a credit card.