Final answer:
In good accounting practices, the commonly used fund for small expenses is known as a petty cash fund, allowing for efficient handling of minor expenditures.
Step-by-step explanation:
In the context of good accounting practices, the organizational fund used for expenses that are too small to justify the writing of a check is known as a petty cash fund. This fund is typically a small amount of cash kept on hand for incidental expenditures, such as office supplies, postage, or minor repairs, which are not practical or cost-effective to pay for by writing checks.
The use of a petty cash system allows a business to efficiently handle these small transactions with simplified documentation and reconciliation processes. Once the petty cash is depleted to a certain level, the fund is replenished through a check, with the corresponding receipts and documentation reflecting those petty cash expenditures.