Multiple Choice
A company has a $14,457 credit balance in the cash account. Given this information, which of the following is a TRUE statement?
A) This is NOT a normal account balance-companies don't normally have this much cash on hand.
B) It is NOT normal for the cash account to have a credit balance.
C) Not enough information provided, since normal account balances are different for each company.
D) It is ALWAYS normal for the cash account to have a credit balance.
Correct Answer:
Verified
Correct Answer:
Verified
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