The term "Imprest system" is used in relation to ____________.
A
Purchase book
No worries! We‘ve got your back. Try BYJU‘S free classes today!
B
Sales book
No worries! We‘ve got your back. Try BYJU‘S free classes today!
C
Cash book
No worries! We‘ve got your back. Try BYJU‘S free classes today!
D
Petty cash book
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
Open in App
Solution
The correct option is D Petty cash book Petty cash system is used to pay small day to day expenses on daily basis. A sum of total spent amount is transferred to cash book and expense account for a particular period rather than recording each individual small transaction.