PRC-1 · Chapter 2 · Question 69 of 100
A petty cashier using the imprest system lost a voucher for Rs. 500. At the end of the month, total vouchers sum to Rs. 4,000, but the physical cash short is Rs. 4,500. How should the main cashier handle the reimbursement?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: A) Reimburse only Rs. 4,000 against the valid vouchers.
Explanation
Under the strict control of the imprest system, reimbursement is strictly tied to documented expenses (vouchers). The missing Rs. 500 represents a cash shortage/loss that must be investigated and formally written off separately.
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