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:

Stemplots

A graphical representation of data used to display its shape and distribution, by separating each data value into a stem and a leaf.

Home Runs

In baseball, a hit that allows the batter to circle all the bases, reaching home safely in one play without any errors being committed by the defensive team.

Stemplots

A graphical representation of data that displays actual numbers as stems and leaves, helping to visualize the shape of a distribution.

Home Runs

A term used in baseball when a batter hits the ball out of the field bounds, allowing them to circle the bases and score a run without being put out.