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WAEC Accounting 2017 Objective — Question 5

Question 5 of 50 from the West African Examinations Council (WAEC) Accounting 2017 Objective paper, with the correct answer and a full explanation.

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5. If a petty cashier has a cash float of Le39,000 and Le37,500 is spent, he will be reimbursed with

  • A. A. Le40,500
  • B. B. Le39,500
  • C. C. Le37,500Correct
  • D. D. Le1,500

Explanation

The petty cashier is reimbursed with the amount spent to keep the imprest float.

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