WAEC Accounting 2016 Objective — Question 7
Question 7 of 50 from the West African Examinations Council (WAEC) Accounting 2016 Objective paper, with the correct answer and a full explanation.
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7. A petty cash account has an imprest of GH¢6,000. If GH¢2,000 were left, how much will be re-imbursed at the end of the period? A. GH¢8,000 B. GH¢6,000 C. GH¢4,000 D. GH¢2,000
- A. GH¢8,000
- B. GH¢6,000
- C. GH¢4,000Correct
- D. GH¢2,000
Explanation
The reimbursement to petty cashier to keep the imprest is the amount spent from the imprest: 6,000-2,000=GH¢4,000.
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