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What else can I help you with?
Why should interest earned not be a factor with your emergency fund?
Interest earned on an emergency fund should not be a primary concern because the main purpose of this fund is to provide quick access to cash during unforeseen circumstances. The focus should be on liquidity and safety rather than maximizing returns. High-yield savings accounts or money market accounts can provide some interest while still ensuring easy access to funds. Ultimately, the priority is to have ready cash available when needed, rather than chasing the highest interest rate.
What is imprest fund system?
The imprest fund system is a system of control of cash which requires that all cash receipts should be deposited intact and all cash disbursements should be made by means of check.This is the one usually followed in handling petty cash transactions.
What is journal entry for fluctuating fund system?
establishment of fund: petty cash fund xx cash in bank xx payment of expenses out of the petty cash fund: expenses xx petty cash fund xx
Does Tom thumb give cash back on personal checks?
No, Tom Thumb does not provide cash back on personal checks. Cash back services are typically offered for debit card transactions or electronic fund transfers.
Is the entry to establish a petty cash account a debit to petty cash and credit to cash?
yes. the entry should be: petty cash fund debit cash in bank credit
When was Central Emergency Response Fund created?
Central Emergency Response Fund was created in 2006.
What expenses should an emergency fund not be used for?
An emergency fund should not be used for non-essential expenses such as vacations, shopping, or entertainment. It is meant to cover unexpected and necessary costs like medical emergencies, car repairs, or job loss.
What Fund covers unexpected expenses?
An emergency fund covers unexpected expenses. It is suggested that an emergency fund be able to cover at least 6 months of expenses in the case of an emergency.
In a Sinking Fund cash or cash assets are set aside for what purpose?
A bond sinking fund is a restricted asset of a corporation that was required to set aside money for redeeming or buying back some of its bonds payable.
What is Fluctuating fund system?
Fluctuating fund system is handling petty cash fund wherein every expenses/voucher is debited directly with petty cash fund as a credit. The petty cash fund is debited only whenever there is a replenishment wherein the proforma entry is:
Should the emergency services be financed by the government of sholid they rely on charities to fund them?
very hard question
What is the difference between an emergency fund and a rainy day fund, and how should I prioritize building each in my financial planning strategy?
An emergency fund is meant to cover unexpected large expenses like medical bills or job loss, while a rainy day fund is for smaller unexpected expenses like car repairs. Prioritize building an emergency fund first to cover major emergencies, then focus on building a rainy day fund for smaller unexpected expenses in your financial planning strategy.
