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This question belongs to Commerce Accounting
Accounting
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Petty cash fund is supposed to be replenished

Answer & Solution
Correct Answer: Option C
Petty cash fund is supposed to be replenished at the end of every accounting period. Replenish means to return the amount of actual cash in the petty cash box back to the amount appearing in the general ledger account Petty Cash. This is done whenever the amount of actual cash in the petty cash box is low and at the end of each accounting period.
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