What is imprest system of petty cash book?

1.	What is imprest system of petty cash book?
Answer» The cash book that records payments of small expenses of small denomination such as postage, stationery, conveyance, etc. This cash book is maintained by a cashier called Petty Cashier and is known as Petty Cash Book.Under Imprest System, a fixed sum of money is given to the petty cashier at the beginning of period and at the end the amount actually spent is reimbursed so as he/she has the same fixed amount of money in the beginning of next period.

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