Identify each of the following statements as either true or false.

1. A petty cash system of control is a system to safeguard cash disbursements

2. A basic guideline for safeguarding cash is to require that all cash receipts be deposited monthly

3. A petty cash system of control is a system to safeguard cash receipts

4. A petty cash system of control is not an adequate control system to safeguard cash disbursements