-n 9 9 Identify an incorrect statement about petty cash fund from the given options. ed out of n O a. Each payment from the fund must be documented on a pre-numbered petty cash receipt b. Petty cash transactions are not recorded until the fund is reimbursed; someone other than the petty cash custodian records those entries C. The sum of the petty cash receipts and the money in the fund should equal the established total at all times O d. None of the options 10 Which of the following is offered by sellers to customers for keeping damaged goods? out of a. Sales allowance b. Purchases return C. Trade discount d. Sales discount 12 It is assumed that the entity has neither the intention nor the necessity of liquidation or of curtailing materially the scale of its operations. This is true about d out of a. Conceptual framework b. Going concern assumption C. All the options O d. Capital maintenance 13 Which of the following is excluded from cash? ut of a. Postage stamps in hand b. Petty cash funds c. Cashier's cheques O d. Bank draft