JAMB Accounting 2018 Objective — Question 9

Question 9 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2018 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 for greater responsibility
C. relieves the chief cashier of numerous petty cash paymentsCorrect
D. serves as an analysis column for every expenses

Explanation

The major advantage of the imprest system is that it reduces pressure on the chief cashier by not needing to be recording petty transactions directly.

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