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CIMA Exam CIMAPRA17-BA3-1 Topic 1 Question 85 Discussion

Actual exam question for CIMA's CIMAPRA17-BA3-1 exam
Question #: 85
Topic #: 1
[All CIMAPRA17-BA3-1 Questions]

MNO operates an imprest system to maintain a float of petty cash of 5100 At the end of the week the petty cash expense vouchers total $76 and there is $36 cash in the float. Which of the following, taken independently, would explain this difference of $10?

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Suggested Answer: A

by Julian at Apr 22, 2024, 08:59 PM

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Martina
10 months ago
Exactly. So based on that rationale, I still think the answer is B.
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Carisa
10 months ago
That's a good point, But the question specifically asks about maintaining the float amount.
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Pa
11 months ago
I'm not so sure. Shouldn't we consider the total spend as well?
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Martina
11 months ago
I agree with The imprest system is maintained by keeping the float amount constant.
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Carisa
11 months ago
I think the answer is B) The float total of $250.
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Cheryll
11 months ago
We need to transfer the float total of $250.
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Leota
11 months ago
What do we need to transfer from the bank account?
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