List 4 internal controls that we can implement to help us safeguard the petty cash fund.

Part 2: Explain what's meant by 2 of the internal controls you listed in part 1 and how it safeguards the petty cash fund.

Q.2

Part 1: Why are petty cash reconciliations prepared? Part 2: What should be included in a petty cash reconciliation?

Q.3

Part 1: What do we mean by a cash overage and a cash shortage? Part 2: Describe 2 reasons that cash overages and shortages occur.

Answer rating: 100% (QA)

Q1 Part 1 Four internal controls to safeguard the petty cash fund are 1 Segregation of duties 2 Pett... View the full answer