Vanessa's Gymnastics' Cash Register Tapes Do Not Agree with Cash

question 57

Multiple Choice

Vanessa's Gymnastics' cash register tapes do not agree with cash receipts.The facts are: total cash register tapes $400;total coins and currency $404.The summary journal entry to record the day's transactions would include a:

• A)$400 debit to Cash;$4 debit to Cash Short and Over;and $404 credit to Service Revenue.
• B)$404 debit to Cash;$4 credit to Cash Short and Over;and $400 credit to Service Revenue.
• C)$404 debit to Cash and $404 credit to Service Revenue.
• D)$400 debit to Cash and $400 credit to Service Revenue.

Illustrate how consumers reconcile the rational and experiential aspects of decision making.

Understand the concepts of maximizing and satisficing in decision-making processes.

Comprehend the key elements of prospect theory, especially regarding gains, losses, and risk preferences.

Learn how external environments influence consumer behavior and decision-making.

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Definitions:

Net Cash

The amount of cash available after all cash inflows and outflows have been accounted for, typically within a specific period.

Operating Activities

Activities that relate to the primary operations of a company, such as selling products or providing services, as opposed to financing or investing activities.

Investing Activities

Financial transactions involving the purchase or sale of long-term assets and investments.

Net Cash

The amount of cash and cash equivalents minus any liabilities or financial obligations.