A Way to Account for Petty Cash by Maintaining a Constant

question 128

Multiple Choice

A way to account for petty cash by maintaining a constant balance in the petty cash account and which at any time requires that cash plus petty cash tickets must total the amount allocated to the petty cash fund,is known as the ________.

• A) control system
• B) voucher system
• C) balanced system
• D) imprest system

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Definitions:

Price

The amount of money required to purchase a good, service, or asset.

Coefficient Of Determination

A statistical measurement that assesses the proportion of the variance in the dependent variable that is predictable from the independent variable(s).

SST

Abbreviation for "Total Sum of Squares," which measures the total variance in a dataset.

SSE

Total of the squared differences between the actual data and the estimated values from a model, illustrating model accuracy.