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JAMB Accounts Principles of Accounts 2016 Paper

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Question : 22

Total: 47

1. The amount of the imprest is the same from one organization to another.

2. At the end of a fixed period, the petty cashier received a fixed sum of money.

3. At the end of a period, the petty cashier is reimbursed with the amount spent in that period.

4. The system is a method by which a measure of control is kept on petty cash expenses.

Which of the following is correct about the imprest system?

II and IV
II, III and IV
I, II and III
III and IV

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