Multiple Choice
A company has a $4568 debit balance in its cash account. Given this information, which of the following is a TRUE statement?
A) It is not normal for a business to have this much cash, therefore this is NOT a normal account balance.
B) It is NOT ever normal for the cash account to have a debit balance.
C) Normal account balances differ from company to company; therefore it is impossible to evaluate the given statement without more information.
D) It is ALWAYS normal for the cash account to have a debit balance.
Correct Answer:
Verified
Correct Answer:
Verified
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