Multiple Select Question

Select all that apply

Review the following statements and select the ones which accurately describe a Petty Cash fund. Select all answers which apply.

It is an asset reported on the balance sheet.

It is an account used to record small sales amounts.

It is established to pay for small payments like low$-$cost supplies and shipping fees, etc.

It is an expense reported on the income statement.

Multiple Select Question

Select all that apply

The triple threat of fraud involves:

mistakes

opportunity

rationalization

pressure

error