Which statement about change fund receipts is true?

Which statement about change fund receipts is true?

• A. An individual receiving a change fund amount should sign a receipt for the amount received.
• B. An individual receiving a change fund amount does not need to sign a receipt.
• C. Signatures are optional for change fund receipts.
• D. Receipts are never required for change funds.

Answer: (A)

Handling a change fund with proper receipts is about establishing accountability and a clear audit trail. When someone receives a change fund amount, they should sign a receipt to document the exact cash received, who received it, and the date. This signed record shows who is responsible for that money and provides a verifiable trail for reconciliation when the funds are returned or replenished. Without a signed receipt, there’s no reliable proof of possession or amount, which makes it hard to track discrepancies and maintain control of cash. Receipts are not optional, and payments aren’t “never required” for change funds. Requiring a signed receipt supports proper internal controls in the office and helps prevent misappropriation or errors.

Handling a change fund with proper receipts is about establishing accountability and a clear audit trail. When someone receives a change fund amount, they should sign a receipt to document the exact cash received, who received it, and the date. This signed record shows who is responsible for that money and provides a verifiable trail for reconciliation when the funds are returned or replenished. Without a signed receipt, there’s no reliable proof of possession or amount, which makes it hard to track discrepancies and maintain control of cash.

Receipts are not optional, and payments aren’t “never required” for change funds. Requiring a signed receipt supports proper internal controls in the office and helps prevent misappropriation or errors.