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PETTY CASH
Test Description: How much do you know about petty cash?
Instructions: Answer all questions to get your test result.
1) Petty Cash is
A
spending small amounts of money for personal items
B
spending small amounts of money for business items
C
spending large amounts of money for business items
D
spending large amounts of money for personal items
2) PCV stands for
A
Popular Colour Violet
B
Personal Cash Voucher
C
Petty Cash Voucher
D
Personal Cheque Voucher
3) Money used to buy stamps would be analysed as
A
TRAVEL
B
MISC
C
OFFICE
D
POSTAGE
4) The amount of money received for the petty cash float is known as the
A
start up
B
restored imprest
C
imprest
D
float
5) The amount of money received to replace the money spent is known as
A
restoring the imprest
B
replenishing
C
cash advance
D
updating
6) PCV + balance in petty cash box =
A
total
B
cash
C
imprest
D
balance outstanding
7) Money received from petty cash must be recorded on a
A
receipt book
B
bank book
C
bit of paper
D
Petty cash statement
8) Petty Cash Vouchers are usually signed by
A
all of the above
B
person receiving money
C
person authorising issue
D
person issuing money
9) Jennifer started with £50 petty cash and has vouchers totalling £18. How much cash should she have in the petty cash box?
A
£18
B
£32
C
£12
D
£50
10) John has £20 left in the petty cash box and vouchers totalling £35. How much does he need to restore the imprest?
A
£55
B
£35
C
£20
D
£15
*select an answer for all questions
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