A company has a $5,679 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.


D) It is ALWAYS normal for the cash account to have a debit balance.

Business

You might also like to view...

Which of the following is a work-study training method that teaches job skills through a combination of on-the-job training and classroom training?

A. co-employment B. benchmarking C. bumping D. onboarding E. apprenticeship

Business

Confidence intervals may be very narrow when:

A) the sample size is large and variability is low B) the sample size is small and the variability is low C) the sample size is large and the variability is high D) the sample size is small and the variability is high E) the sample size is average and the variability is higher than average

Business

A factor model that provides a good fit to the data has many large residuals

Indicate whether the statement is true or false

Business

Which of the following is not a suggested tool for action planning?

a. A pro/con list b. A to do list c. Surveys d. Responsibility charts

Business