Question
The Cash Over and Short account: A) Is not necessary in a computerized accounting system. B) Is used when the cash account reports a credit
The Cash Over and Short account:
A) Is not necessary in a computerized accounting system. B) Is used when the cash account reports a credit balance. C) Can never have a debit balance. D) Is used to record the income effects of errors in making change and/or processing petty cash transactions. E) Can never have a credit balance.
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Financial Accounting A Global Perspective
Authors: Robert Libby, Patricia Libby, Daniel G Short
5th Edition
0071107746, 978-0071107747
