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Internal Control and Cash
?
If the petty cash fund is not replenished at the end of the accounting reporting period,
the income statement and the balance sheet will not be correct
liabilities will be overstated on the balance sheet
the cash account will be understated
it indicates that the petty cash fund is probably short
Show Result
Correct
- Your answer is correct.
Wrong
- Your answer is wrong.
Detailed Answer
Correct answer: (A)
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