Question

Petty cash is typically kept to a maximum of how much money?

Answer 1

Petty cash is typically kept at a manageable level, usually between $100 and $500, to minimize the risk if lost or stolen.

Step-by-step explanation:

Petty cash is typically kept to a maximum of an amount that is small enough that it can be easily managed and accounted for. This amount may vary depending on the needs and size of the organization, but it is usually between $100 and $500. Keeping petty cash at a manageable level ensures that it doesn't become a significant risk if lost or stolen.