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What do you understand by petty cash book? |
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Answer» The book maintained by the petty cashier to record small payments of repetitive nature (petty payments) ie stationery, postage, carriage, traveling, etc are made by him during a particular period is called the “petty cash book”. The petty cashier works under the supervision and control of the main cashier who advances a certain amount to the petty cashier in the beginning of a specific period. The petty cashier is permitted to make payments only below a particular limit. |
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