The small amount of cash held on hand to pay minor expenses is known as:

(A) Petty cash

(B) Small cash fund

(C) Money on hand

(D) Cash

Answer (A): Petty cash

Explanation: The petty cash book is a record of insignificant money consumptions, arranged by date. Subsequently, the book is essential for a manual record-keeping framework. The petty cash book has declined in its significance, as organizations are continuously killing all utilisation of the petty cash system, for utilising the organization’s credit cards.

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