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Financial Accounting

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Petty Cash: Types of Transactions

FINACT-T@6ZCB

Petty cash generally involves transactions that include the following:

Select ALL that apply.

A

Dollar amounts that total less than $500.

B

Transactions the business is not concern about making.

C

Transactions from the prior year.

D

Large denominations that require manager approval.

E

Expenses for meals, entertainment and postage.