An Imprest Petty Cash Fund of $400 Was Established for Minor

question 97

Multiple Choice

An imprest petty cash fund of $400 was established for minor disbursements. At the end of the month the fund included petty cash tickets for the purchase of $185 in supplies, $41 for postage, $86 for fuel and a delivery charge of $65. If there is $13 left in the fund, how much cash is required to replenish the fund?

• A)$377
• B)$236
• C)$387
• D)$367

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Definitions:

Murray Weidenbaum

An American economist known for his contributions to public policy, environmental economics, and as a key economic advisor during the Reagan administration.

Thorstein Veblen

A prominent American economist and sociologist known for his theories on the social implications of economic behaviors, particularly conspicuous consumption and leisure class.

Benjamin Franklin

A founding father of the United States, known for his contributions to the fields of science, politics, and economics.

MPC

Marginal propensity to consume (MPC) represents the ratio of the change in consumer spending to the change in income, showing how much income will be spent rather than saved.