Which of the Following Is a CORRECT Statement About the Petty

question 102

Multiple Choice

Which of the following is a CORRECT statement about the petty cash fund?

• A)To set up the petty cash fund,a check is issued to the chief financial officer.
• B)The custodian of the fund has sole responsibility for accounting for the fund.
• C)The cash in the fund must always equal the opening balance of the fund.
• D)The petty cash fund must be maintained at a bank.

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Definitions:

Discrete Random Variable

A type of random variable that assumes a countable number of distinct values, often representing outcomes of a random process.

Poisson Random Variable

A statistical measure that represents the number of events occurring in a fixed interval of time or space which are independent of each other.

Poisson Process

A stochastic process that models the occurrence of events in fixed intervals of time or space where events occur with a constant mean rate and independently of the time since the last event.

Random Pattern

An arrangement or distribution showing no regularity or discernible order, often analyzed to understand the randomness in spatial or sequence data.