A good internal control over cash is to retain all cash-related supporting materials for at least five years. True or false

The petty cash account is increased when petty cash is replenished. True or false

The petty cash fund may be increased if a company finds that it is presently insufficient. True ir false

A bank reconciliation must begin with equal bank and company balances. True or false

Which of the following would not be an appropriate use of petty cash? Purchase of copier paper Payment of lunch deliveryman Purchase of stamps Withdrawal by the owner