Which of the following is a correct statement regarding the Cash Shortage account?
A. It is reported as a miscellaneous revenue.
B. It is reported on the balance sheet.
C. The account normally has a credit balance.
D. If the recorded cash exceeds the cash counted, a shortage exists.
Answer: D
You might also like to view...
With the ________ heuristic, the consumer sets a minimum acceptable cutoff level for each attribute and chooses the first alternative that meets the minimum standard for all attributes
A) conjunctive B) lexicographic C) elimination-by-aspects D) primary E) secondary
Dividends on cumulative preferred stock do not become a liability of the corporation until they are declared by the board of directors
Indicate whether the statement is true or false
What is an "eligible educational institution" as it relates to the deductibility of student loan interest?
What will be an ideal response?
If a venture activity does not involve a core competency, then you should consider
a. growing the competency. b. outsourcing the competency. c. deleting the competency. d. None of the above.