The Debit Recorded in the Journal to Reimburse the Petty

question 133

Multiple Choice

The debit recorded in the journal to reimburse the petty cash fund is to

• A) Petty Cash
• B) Accounts Receivable
• C) Cash
• D) various accounts for which the petty cash was disbursed

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Definitions:

Major Expenditures

Large amounts of money spent on significant aspects of business operations, such as purchasing assets, research and development, or significant repairs.

Custody

The protective care or guardianship of someone or something, often used in the context of the legal guardianship of a child or the care of assets.

Records Keeping

The practice of maintaining and organizing records and documents, often for compliance and operational purposes.

Cash Drawer

A container or compartment within a cash register where cash from transactions is kept, often used in retail settings.