Which of the following, taken independently, would explain this difference of $10?

MNO operates an imprest system to maintain a float of petty cash of 5100 At the end of the week the petty cash expense vouchers total $76 and there is $36 cash in the float.

Which of the following, taken independently, would explain this difference of $10?
A . The total of the expense vouchers has been overstated by $10
B . $10 expense has been paid for which there is a missing expense voucher
C . A $20 bill has been counted as a $10 bill in the float
D . A $10 receipt from an employee has not been added to the float

View Answer

Answer: A