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CIMA Exam CIMAPRA17-BA3-1 Topic 1 Question 81 Discussion

Actual exam question for CIMA's CIMAPRA17-BA3-1 exam
Question #: 81
Topic #: 1
[All CIMAPRA17-BA3-1 Questions]

GH operates an imprest system for petty cash, maintaining a float of $250 The following petty cash book extract is available for a week in March 20X6:

How much does GH need to transfer from the bank account at the end of this week In order to maintain the imprest system?

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Suggested Answer: A

by Ciara at Feb 11, 2024, 07:30 AM

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Pura
6 months ago
I beliPura the correct answer is B as well, to ensure the continuous flow of petty cash.
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Shakira
6 months ago
That's a good point, but the float total is what needs to be maintained for the imprest system.
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Thaddeus
6 months ago
But wouldn't it make sense to transfer the total spend instead, which is $185?
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Charlene
6 months ago
I agree with Shakira, the float total needs to be maintained.
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Shakira
6 months ago
I think the answer is B.
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