Question: Which statement is correct? 1. The petty cash book only records net amounts as for the small values VAT can be neglected. 2. The petty

Which statement is correct?

1. The petty cash book only records net amounts as for the small values VAT can be neglected.

2. The petty cash book is a subordinate account to the cash book.

3. It is required to appoint at least 2 petty cashiers (4 eyes principle).

4. The petty cash book is no account but a template.

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