JAMB Accounting 2014 Objective — Question 11

Question 11 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2014 Objective paper, with the correct answer and a full explanation.

The major advantage of an imprest system is that it

A. ensures a proper accountability for every expenditure
B. trains young accountants in the preparation for greater responsibilities
C. relieves the chief cashier of the numerous petty cash paymentsCorrect
D. serves as an analysis column for every expenses

Explanation

The imprest system is established to reduce the burden of petty expenses on the chief cashier.

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