These principles help companies control multiple aspects of the business, especially their cash. Cash is an important
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Question:
These principles help companies control multiple aspects of the business, especially their cash. Cash is an important portion of any business; there is even a financial statement dedicated to tracking the company's cash flows.
In your post and in your own words:
Responding to the following
1) Define Petty Cash and how a petty cash system operated and controlled.
- 2) Discuss which internal control principles you think are the most important to safeguard petty cash and explain why
- 3) Explain the limitations that internal controls have on petty cash.
Related Book For
Financial accounting
ISBN: 978-0136108863
8th Edition
Authors: Walter T. Harrison, Charles T. Horngren, William Bill Thomas
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