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Which of the following is an advantage of the imprest system?

Accounts - Principles of Accounts
JAMB 2025

Which of the following is an advantage of the imprest system?

  • A. making high profits in the business
  • B. Rewarding the imprest holder
  • C. Meeting small items of expenditure
  • D. Easy preparation of the final accounts
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Correct Answer: Option C
Explanation

The imprest system is used to control petty cash. Its main advantage is efficient management of small expenses. It does not directly increase profits, reward the imprest holder, or simplify final account preparation.

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