A Petty Cash Fund

question 149

Multiple Choice

A petty cash fund:

• A) is established to pay large nonrecurring expenses.
• B) is established to pay on-the-spot minor purchases.
• C) should have a least two custodians.
• D) should issue checks for certain purchases.

Understand the effects of inflation on money and its purchasing power.

Comprehend the penalties and terms associated with early withdrawal from savings instruments.

Analyze the impact of money's physical condition and circulation frequency on its lifespan.

Understand the primary functions and characteristics of money including acceptability, stability, portability, and divisibility.

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Definitions:

Osmoregulation

The process by which organisms maintain the balance of water and electrolytes in their bodies to sustain life.

Marine Invertebrate

Organisms without a backbone living in marine environments.

Freshwater

Water that contains minimal amounts of dissolved salts, found in rivers, lakes, streams, and groundwater, essential for drinking, agriculture, and habitat for many organisms.

Buoyancy

The upward force exerted by a fluid that opposes the weight of an object immersed in it, enabling the object to float or to seem lighter.