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Petty Cash Book
Subject: Business Studies CLASS: JSS 2. Objectives : By the end of the lesson, the students should be able to know the following. · Explain the meaning of petty cash book. · State the need for keeping a petty cash book. · Analyze items of expenditure and record them correctly in the petty cash book. Week one Day one Introduction As a business grows, the accounting system also grows. In this case, small payments that are best paid in cash instead of by cheque can become a problem. This chapter will discuss the petty cash book as a means of keeping money available for small payments. Meaning of Petty Cash Book Petty means small. An amount of cash kept on hand and used for making small payments is called petty cash . A petty cash book is a ledger bound separately for recording all small payments made in cash out of an agreed sum of mone...
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