The Petty Cash Fund at Brookshire Company Has a Designated

question 206

Multiple Choice

The petty cash fund at Brookshire Company has a designated balance of $250.The fund currently holds $125 in cash and $127 in petty cash tickets.Based on this information,which of the following statements is correct?

• A) The total of the cash on hand plus petty cash tickets equals the designated fund balance.
• B) A shortage of $2 exists.
• C) To replenish the petty cash fund, the company must write a check, payable to Petty Cash, for $127.
• D) The petty cash fund custodian must locate the $2 discrepancy.

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Definitions:

Skewness

A measure of the asymmetry of the probability distribution of a random variable about its mean.

Kurtosis

A measure of the "tailedness" of the probability distribution of a real-valued random variable, indicating the sharpness of the peak of a frequency-distribution curve.

Variability

A measure of how spread out or dispersed the scores in a set of data are.

Spread

A statistical term describing the range or distribution of data points in a data set.