Imprest System
Options
A
B
C
D
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Accounting ProcessQuestion 4994 of 84
All Questions Correct Answer
✅ Option — Correct Option
All Options:
- A
- B
- C
- D
Detailed Solution & Explanation
Imprest System:
An amount is fixed which is given to petty cashier who meets expenses out of it &
periodically or when the amount is spent, he takes reimbursement from main Cashier
exactly equal to amount spent hence his cash balance again becomes equal to fixed
imprest amount.
This is the upper limit of cash which petty cashier can have.
It is a version of Petty cash book only.
Ex. Imprest amount is fixed at 1,000. Petty cashier has spent 785 in that period, thus
he has balance of 215. Now he will get reimbursement from main cashier 785, thus his
balance will again become 1000.
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Imprest System
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