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imprest account


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A means of controlling petty-cash expenditure in which a person is given a certain sum of money (float or imprest). When some of it has been spent, that person provides appropriate vouchers for the amounts spent and is then reimbursed so that the float is restored. Thus at any given time the person should have either vouchers or cash to a total of the amount of the float.

Subjects: Financial Institutions and Services — Accounting.


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