Question

State 2 reasons for maintaining a petty cash book

Answer 1

Answer:

Advantages of Petty cash book:

Simple method: Recording of transactions in a petty cash book is easy. ...

Time saving: Recording in petty cash book dsaves time and efforts of teh chief cashier.

Efficient control: At teh end of a period, Petty cash book is audited by the main cashier, so frauds and errors are less probable.