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Please assist (iii) Weekly Tax - $9 (3 marks) Question 3: Petty Cash 'The principle that receipts should be banked daily and all payments made

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Please assist

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(iii) Weekly Tax - $9 (3 marks) Question 3: Petty Cash 'The principle that receipts should be banked daily and all payments made by cheque provide a sound basis for internal control over cash. But it breaks down immediately when cash is given to a junior employee to spend through the petty cash fund." Discuss

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