Indicate Whether Each of the Following Items Regarding Petty Cash

question 95

Short Answer

Indicate whether each of the following items regarding petty cash is true or false.
_____ a)The establishment of a petty cash fund is an asset use transaction.
_____ b)The replenishment of a petty cash fund is an asset source transaction.
_____ c)At any time,the total of the petty cash vouchers plus the remaining coins and currency should equal the balance of the Petty Cash ledger account.
_____ d)If a shortage occurs,a credit is entered to the Cash Short and Over account.
_____ e)There is no journal entry made in the accounting records at the time when petty cash funds are disbursed.

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Definitions:

Neurologic Status

The current state of the nervous system's functioning, including cognitive processes, sensory perception, motor coordination, and reflexes.

Electroencephalogram

A test that measures electrical activity in the brain, often used to diagnose neurological conditions.

Monro-Kellie Doctrine

A physiological principle stating that the total volume inside the cranial cavity is fixed, comprising brain tissue, cerebrospinal fluid, and blood; changes in one component must be compensated by changes in the others to maintain pressure balance.

Osmotic Diuretic

A type of diuretic drug that inhibits reabsorption of water and sodium, increasing urine production to reduce fluid in the body.