Locking Petty Cash in a Safe Is an Example of __________________________

question 136

Short Answer

Locking petty cash in a safe is an example of __________________________.

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Definitions:

Cash Budget

A financial plan that outlines expected cash inflows and outflows over a specific period, including income and expenses.

Program Budgeting

A method of budgeting in which all expenses must be justified for each new period, focusing on programs and activities instead of traditional line items.

Responsibility Accounting

A financial recording system that accumulates, consolidates, and presents finance-related data pertaining to the obligations of specific managers or units.

Responsibility Centres

Segments within an organization for which individual managers are accountable, focusing on financial performance and operational efficiency.