Question

Which of the following is an example for misappropriation of cash?
a.Making payments against purchase vouchers. b.Not accounting for cash sales fully
c. Casting wrong totals in the cash book
d.Transfer cash to personal accounts.

answer if you 100% sure​

Answer 1

Answer:

d is the correct answer

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Answer 2

The correct answer is option (c.) Casting wrong totals in the cash book.

Explanation:

• Casting wrong totals in the cash book is an example for misappropriation of cash.
• Misappropriation of Cash  means showing false payments or excess payments in cash book.
• For example, misappropriation occurs when the CEO of a nonprofit organization uses monies meant for charity to pay for a luxurious vacation for himself.
• Theft of cash receipts and petty cash and showing fictitious payment to workers, creditors, purchases, etc are also related with the misappropriation of cash.