Business, 21.05.2020 08:00 shonherron

Explain the Charachteristics and the internal controlfeatures of an imprest fund.
An imprest fund has balance at all times, which equals the sum of accounts receivable cash in the bank cash in the fund deposits in transit plus the check stubs credit memos total of the tickets that support payments from the fund. The internal control feature of an imprest fund is that it clearly debits clearly identifies decreases increases the amount of money for which the fund custodian is responsible.

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Explain the Charachteristics and the internal controlfeatures of an imprest fund.
An imprest f...

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