Which of the Following Procedures Is Incorrect for Setting Up

question 24

Multiple Choice

Which of the following procedures is incorrect for setting up and maintaining a petty cash fund?

• A)A check is prepared for a fixed amount;when the check is cashed,the money is entrusted to a petty cash custodian.
• B)A journal entry is recorded to establish the fund and obtain the cash.
• C)When appropriate documentation is presented,cash payments are made from the fund;the petty cash custodian retains the documentation.
• D)When the petty cash fund is replenished,a journal entry is recorded to recognize an increase in the petty cash account.

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Definitions:

Population Growth

The increase in the number of individuals in a population, often measured in terms of birth rates, death rates, immigration, and emigration.

Positive Checks

In Malthusian theory, natural or societal forces such as famine, disease, and war that serve to increase the death rate.

Infanticide

The act of deliberately causing the death of an infant, often associated with cultural, social, or psychological factors.

Prostitution

The practice of engaging in sexual activity in exchange for payment.