Multiple Choice
The Cash Over and Short account:
A) Is used when the cash account reports a credit balance.
B) Is used to record the income effects of errors in making change and/or processing petty cash transactions.
C) Is not necessary in a computerized accounting system.
D) Can never have a debit balance.
E) Can never have a credit balance.
Correct Answer:
Verified
Correct Answer:
Verified
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