Question on: JAMB Accounting - 2013
- The amount of the imprest is the same from one organization to another
11.At the end of a fixed period, the petty cashier received a fixed sum of money.
- At the end of a period, the petty cashier is reimbursed with the amount spent in that period.
1V. The system is a method by which a measure of control is kept on petty cash expenses.
Which of the above is correct about the imprest system?
A
1, 11 and 111
B
1, 111 and 1V
C
11 and 1V
D
111 and 1V
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Correct Option: C
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