13 Which of the following correctly describes the imprest system for operating petty cash?

13 Which of the following correctly describes the imprest system for operating petty cash?

A

A All expenditure out of petty cash must be supported by a properly authorised voucher.

B A regular equal amount of cash is transferred into petty cash.

C The exact amount of expenditure out of petty cash is reimbursed at intervals.

D A budget is fixed for a period which petty cash expenditure must not exceed.

C