A Key to Strong Control Over Petty Cash Is to Ensure

question 93

True/False

A key to strong control over petty cash is to ensure that several persons serve as custodian at one time.

---

Definitions:

Revenue And Spending Variances

Differences between the actual and budgeted amounts on both the revenue side and the expenditure side, indicating the financial performance over a certain period.

Customers Served

The number of customers that have been provided with products or services by a business during a specific time period.

Planning Budget

A budget created for a specific level of activity; it helps management set financial targets and evaluate performance.

Customers Served

refers to the number or segment of clients to whom a business has provided products or services within a specific period.