The fixed amount of money given to a petty cashier at the beginning of a period is called?

A. Imprest
B. float
C. cash advance
D. cash

Correct Answer:

Option A – Imprest

Explanation

The word ‘imprest’ means ‘advance amount’ given to certain person to make petty payments. It is a system of petty cash book where a person (petty cashier) is given a fixed amount in the beginning of the month or week.