What are the advantages of Petty Cash Book?
AccountancyClass 11CBSEAnswered 23 Jun 2026
Answer
There are mainly four advantages of maintaining a petty cash book:-
- Saving of time. Saving of time of the chief cashier
- Saving of labour. Saving of labour in writing into the ledger.
- Control. It provides control over small payments
- Convenience in preparing ledger accounts. The Totals are not only taken to post them into ledger. No unnecessary details are to be given.
Suggested Q&A
Accountancy · Class 11- AccountancyClass 11What is meant by Assets? Also explain its types.
- AccountancyClass 11Explain the following terms of Accounting: (a) Sales (b) Revenues (c) Profit (d) Gain (e) Loss (f) Discount (g) Drawings.
- AccountancyClass 11Describe the informational needs of external users.
- AccountancyClass 11Explain any five advantages of Accounting.
- AccountancyClass 11Explain any five limitations of Accounting.
- AccountancyClass 11Explain the following terms of Accounting: (a) Expenses (b) Expenditure (c) Debtors (d) Creditors (e) Voucher.