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Which of the following statements regarding a petty cash fund is false? A. The fund is managed on an imprest basis. B. The fund is

Which of the following statements regarding a petty cash fund is false?

A. The fund is managed on an imprest basis.

B. The fund is used to pay for minor expenses like postage and delivery charges.

C. The fund should have a balance large enough to pay the expected expenses for one year.

D. All fund replenishments are made by check.

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