The Cash Over and Short Account

question 4

Multiple Choice

The Cash Over and Short account

• A) Is used to record a credit balance in the cash account
• B) Is an income statement account used for recording the income effects of cash overages and cash shortages from errors in making change and missing petty cash receipts
• C) Is not necessary in a computerized accounting system
• D) Is an income statement account used for recording the income effects of cash overages and cash shortages from errors in making change and missing petty cash receipts and is not necessary in a computerized accounting system
• E) None of these

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Definitions:

Reflexes

Automatic, involuntary movements or actions in response to specific stimuli, present from birth and necessary for survival.

Qualitative Change

Transformation that involves a fundamental difference in nature or character, not merely in amount or volume.

Sucking, Swallowing, and Breathing

Fundamental activities crucial for newborn survival, involving reflexes necessary for feeding and respiration.

Psychological Functioning

An individual's mental processes and behaviors in relation to their emotional, cognitive, and social wellbeing.