Cash Management Training Session - Student Business Services

Please open Administrative Practice Letter I-F and review the material and all related exhibits.

Now that you have reviewed the material please answer the following questions:

1. Any individual working with cash must recognize the importance of*

A. Reconciliation of accounts
B. Prompt deposit
C. Adequate records
D. All of the above

2. The receipt of all cash must be recorded on*

A. A cash register
B. Pre-numbered cash receipts
C. A or B
D. Accounting Sheets

3. Checks and cash receipts should be deposited*

A. Within a Year
B. Daily
C. Monthly
D. When cash exceeds $1000

Please open Administrative Practice Letter I-E and review the material and all related exhibits. Now that you have reviewed the material please answer the following questions:

4. Petty cash reimbursements must*

A. Include receipt copies
B. Include original receipts
C. Be submitted within 90 days from receipt date
D. B & C

5. Petty cash needs to be replenished as frequently as the fund requires, except that it should be replenished*

A. At least weekly
B. At least monthly
C. At close of each fiscal year
D. A and C
E. B and C

6. Petty cash funds are established when*

A. A frequent need to pay out amounts greater than $125.00
B. Any expense that requires IRS reporting
C. When payment through normal acct. channels would result in delay annoyance or excessive expense of maintaining records.
D. Emergency situations (not to exceed $300 in cash)
E. C & D

7. The petty cash fund custodian*

A. Must go through appropriate campus financial office to create a petty cash fund and sign an “Imprest Fund Receipt and Agreement”
B. Can take cash from a regular deposit to create a petty cash fund
C. Must take, at a minimum monthly, a petty cash count of all petty cash funds acknowledged
D. All of the above

Name*

Department*

Email*

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