Test Index

WAEC Accounting 2011 Paper

Question : 18

Total: 47

Solution:

Concept:

The imprest system keeps a fixed float, so the cashier is reimbursed for exactly the amount spent.

Explanation:

Fixed imprest amount =

\mathrm{D}\,1{,}000

Amount disbursed during the week =

\mathrm{D}\,920

To restore the float back to

\mathrm{D}\,1{,}000

, the cashier needs the exact amount spent.

So, reimbursement required = amount disbursed =

\mathrm{D}\,920

Answer:

\mathrm{D}\,920

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