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

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?

AThe total of the expense vouchers has been overstated by $10

B$10 expense has been paid for which there is a missing expense voucher

CA $20 bill has been counted as a $10 bill in the float

DA $10 receipt from an employee has not been added to the float

Suggested Answer: A

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35 comments · newest first

Michell 11 months ago

Not sure about that, could be a mistake in the vouchers too.

Tyra 11 months ago

Definitely feels like a missing voucher situation.

Allene 11 months ago

Wait, how can a $20 bill be counted as $10? Sounds off!

Cristina 12 months ago

I think option B makes the most sense here.

Timothy 12 months ago

The expense vouchers total $76, so that's a fact.

Lettie 1 year ago

I’m leaning towards option A because if the vouchers were overstated, that would directly cause the difference we see in the cash float.

Kimberlie 1 year ago

I practiced a similar question where a bill was miscounted, so option C could be a possibility, but I feel like it’s less likely here.

Francesco 1 year ago

I’m not entirely sure, but I think option B makes sense since it mentions a missing voucher, which could easily explain the discrepancy.

Keshia 1 year ago

I remember something about how the petty cash should always balance, so the missing $10 must be due to an expense that wasn't documented.

Wynell 1 year ago

I've got this! The difference is clearly due to a counting error in the float. Option C has to be the right answer - a $20 bill was mistaken for a $10 bill.

Arlean 1 year ago

Okay, let's see. The key information is the $76 in expense vouchers and the $36 cash in the float, which adds up to $112 but the imprest float is $100. I think option B makes the most sense - there's likely a missing $10 expense voucher.

Lennie 1 year ago

This seems like a straightforward petty cash reconciliation question. I'll carefully review the information provided and think through each option to determine the most likely explanation for the $10 difference.

Cordelia 1 year ago

Hmm, I'm a bit unsure about this one. I'll need to double-check the details and make sure I understand the imprest system concept before selecting an answer.

Tresa 1 year ago

Ugh, I hate these EDFA questions. They always seem to involve a bunch of complicated formulas and calculations. I'm just going to guess and hope for the best.

Cecil 1 year ago

Hmm, I'm a bit unsure about this one. I'll need to think it through carefully to make sure I don't miss anything.

Teddy 1 year ago

This seems straightforward to me. A receptive-identification task is all about the learner responding to the verbal stimulus, so the correct answer has to be C, listener.

Krystina 1 year ago

I'm no accountant, but I feel like they're trying to trick us with these petty cash questions. Just keep it simple, guys!

Troy 1 year ago

Ooh, tricky one. I think I'll go with A - overstated expense vouchers. Can't go wrong with the straightforward option, right?

Sommer 1 year ago

↳ replying to Troy

I think it might be D - missing receipt in the float.

Pamella 1 year ago

↳ replying to Troy

I agree with A - overstated expense vouchers.

Margurite 1 year ago

↳ replying to Troy

I'm leaning towards C - counting error in the float.

Veta 1 year ago

↳ replying to Troy

I think it's B - missing expense voucher.

Elke 1 year ago

Haha, a $20 bill counted as a $10? That's a classic petty cash blunder right there. I'd go with C on this one.

Nu 1 year ago

I was leaning towards D, the missing receipt. But B makes sense too. Either way, it's important to keep that petty cash system in order!

Shawna 1 year ago

↳ replying to Nu

We should definitely make sure to keep track of all receipts and vouchers in the petty cash system.

Ellsworth 1 year ago

↳ replying to Nu

I agree, missing expense vouchers can definitely cause discrepancies.

Margery 1 year ago

↳ replying to Nu

I think B is the most likely explanation for the difference.

Armanda 2 years ago

Hmm, I'm pretty sure it's B. Missing expense voucher. That seems like the most straightforward explanation to me.

Albert 1 year ago

↳ replying to Armanda

I'm not sure, but D could also be a possibility. Maybe a receipt from an employee was not added to the float.

Ruthann 1 year ago

↳ replying to Armanda

I see your point, but I still think it's B. A missing expense voucher is the most likely reason.

Jess 1 year ago

↳ replying to Armanda

I disagree, I believe it's C. A $20 bill being counted as a $10 bill in the float makes more sense.

Rebeca 1 year ago

↳ replying to Armanda

I think it could also be A. The total of the expense vouchers might have been overstated by $10.

Dalene 2 years ago

That's a good point, Izetta. It could be either of those reasons causing the $10 difference.

Izetta 2 years ago

I disagree, I believe it could also be C) A $20 bill has been counted as a $10 bill in the float.

Dalene 2 years ago

I think the answer is B) $10 expense has been paid for which there is a missing expense voucher.

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