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Question
What is an imprest system?
What is an imprest system?
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Solution
(A) A system restricted to the payment of liabilities
(B) A system that is controlled by having a clearly defined maximum level
(C) A system created for a special project that a company feels will likely occur
(D) A system that is only accessible by passwords
Answer (B): A system that is controlled by having a clearly defined maximum level
Explanation: An imprest framework is a type of monetary bookkeeping. The most well-known is petty cash. The essential attribute of an imprest framework is that a decent sum is saved, which after a specific timeframe or when conditions require this is on the grounds that cash was spent, will be renewed.
(A) A system restricted to the payment of liabilities
(B) A system that is controlled by having a clearly defined maximum level
(C) A system created for a special project that a company feels will likely occur
(D) A system that is only accessible by passwords
Answer (B): A system that is controlled by having a clearly defined maximum level
Explanation: An imprest framework is a type of monetary bookkeeping. The most well-known is petty cash. The essential attribute of an imprest framework is that a decent sum is saved, which after a specific timeframe or when conditions require this is on the grounds that cash was spent, will be renewed.
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