Test Index

WAEC Accounting 2013 Paper

Question : 8

Total: 48

A petty cashier received a float of GHC 84. The imprest is

Solution:

Concept:

Under the imprest system, the amount of the float given to the petty cashier is exactly the imprest amount.

Explanation:

The petty cashier received a float of

\mathrm{GHC}\,84

In the imprest system, this float is the fixed sum used to restore petty cash at the start of each period.

So, the imprest is equal to the float of

\mathrm{GHC}\,84

Answer:

\mathrm{GHC}\,84

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