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The most common imprest system is the ______ system

A. Petty cash

B. Cash book

C. Cash receipts journal

D. Discount

Answer: Option A

Solution(By Examveda Team)

The most common imprest system is the Petty cash system. The base characteristic of an imprest system is that a fixed amount is reserved, which after a certain period of time or when circumstances require, because money was spent, it will be replenished.

This Question Belongs to Commerce >> Accounting

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