Write the short note on the following
A. Transparency
B. Accountability
C. Probity
2. List five items of Expenditure in petty cash book
A. Transparency: Transparency refers to the quality of being open, honest, and clear in communication and actions. It is an important principle in governance, business, and relationships as it helps build trust and credibility. Transparency involves sharing information, decisions, and processes openly with stakeholders.
B. Accountability: Accountability is the responsibility to answer for one's actions and decisions. It involves being answerable to stakeholders for the outcomes of one's actions and decisions. Accountability is important in ensuring that individuals and organizations act ethically, responsibly, and in the best interest of the public or stakeholders.
C. Probity: Probity refers to integrity, honesty, and ethical behavior in one's actions and decisions. It involves adhering to high moral principles and ethical standards in all aspects of one's conduct. Probity is essential in maintaining trust, credibility, and good governance.
2. List five items of Expenditure in petty cash book:
1. Office supplies (e.g., pens, paper, envelopes)
2. Refreshments for meetings or events
3. Postage and courier services
4. Reimbursements for small expenses (e.g., travel, meals)
5. Petty repairs and maintenance expenses