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:

Free Association

A psychoanalytic technique in which a patient says whatever comes to mind without censorship as a way of exploring the unconscious.

Transference

An emotional reaction that occurs during psychoanalysis, in which the patient displays feelings and attitudes toward the analyst that were present in another significant relationship.

Self-Actualization

The pursuit of self-defined goals for personal fulfillment and growth.

Resistance

Opposition in psychotherapy, where the patient either consciously or unconsciously opposes discussing, recalling, or engaging with certain thoughts, feelings, or experiences.