Question

Give the meaning of Imprest System of petty cash book. Give it's advantages

Answer 1

Advantages of Imprest System of Petty Cash Book:

It relieves the cash book and the Chief Cashier of the burden of recording tiny and frequent payments. 2. Commission of fraud is reduced as the Chief Cashier verifies petty cash book along-with vouchers and the Petty Cashier is more responsible. ADVERTISEMENTS

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