Unrestricted in use for current operations.
Available for the purchase of property, plant and equipment.
Set aside for liquidation of long-term debt.
Deposited by bank.
Redeemable preference shares acquired and due in 60 days
Commercial paper held and due for repayment in 90 days
Separately as current asset with appropriate disclosure.
Separately as non-current asset with appropriate disclosure.
Separately as current asset without appropriate disclosure.
Separately as non-current asset without appropriate disclosure.
A three-year treasury note maturing on October 30, 2011 purchased by the entity on September 15, 2011.
A three-year treasury note maturing on October 30, 2011 purchased by the entity on June 30, 2011.
A 90-day treasury bill.
A 60-day money-market placement.
The minimum cash balance in the entity’s current account which is maintained to avoid service charges.
A check issued by the entity on December 27, 2011 but dated January 15, 2012.
Time deposit which matures in one year.
A customer’s check denominated in a foreign currency.
€ 30,000 cash in current account.
Past promissory note issued in favor of the entity by its President.
Another entity’s P225,000 check payable to the entity dated December 15, 2018.
The entity’s undelivered check payable to a supplier dated December 31, 2018.
Shall be treated as outstanding checks.
Shall be restored to the cash balance.
Shall be treated as outstanding checks if the date is shortly after the end of reporting period.
Shall be treated as outstanding checks if they are ultimately encashed.
Only when the fund is created.
When the fund is created and everytime it is replenished.
When the fund is created and when the size of the fund is increased.
When the fund is created and when the size of the fund is decreased.
The balance of the petty cash fund should be reporting in the statement of financial position as a long-term investment.
The petty cashier’s summary of petty cash payments serves as a journal entry that is posted to the appropriate general ledger account.
The reimbursement of the petty cash fund should be credited to the cash account.
Entries that include a credit to the cash account should be recorded at the time the payments from the petty cash fund are made.
Is not generally accepted.
Is debited when the petty cash fund proves out over.
Is debited when the petty cash fund proves out short.
Is a contra account for cash.
High credit quality
All of the above
All of the above
Proof of cash
Here's an interesting quiz for you.