Question: answer all question please plus those answered i need clarification if they are correct. thanks QUESTION 1 The creation of a petty cash fund requires
answer all question please plus those answered i need clarification if they are correct. thanks







QUESTION 1 The creation of a petty cash fund requires a journal entry to reflect the transfer of funds out of the general Cash account True O False QUESTION 2 Effective cash control ideal y requires the investment of otherwise idle cash so as to earn revenues True False QUESTION 3 The quick ratio is the ratio of quick assets to current liabilities and measures a company's short-term debt-paying ability True False QUESTION 4 It is impossible to construct a foolproof system of internal control True O False QUESTION 5 The balance in the Petty Cash ledger account will be larger after the petty cash fund is replenished than it was before. True False
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