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How a petty cash system operated and controlled

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Question - These principles help companies control multiple aspects of the business, especially their cash. Cash is an important portion of any business; there is even a financial statement dedicated to tracking the company's cash flows.In your post and in your own words, responding to the following:

Define Petty Cash and how a petty cash system operated and controlled.

Discuss which internal control principles you think are the most important to safeguard petty cash and explain why

Explain the limitations that internal controls have on petty cash.

Reference no: EM133143778

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