Question: Which statement is correct? 1. The petty cash book is required for limited companies. 2. The petty cash book must be closed-off every month. 3.

Which statement is correct?

1. The petty cash book is required for limited companies.

2. The petty cash book must be closed-off every month.

3. The petty cashier must be an Accountant.

4. The petty cash is a budget for minor expenses.

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