A Debit Balance in Cash Over and Short Is Reported

question 184

Multiple Choice

A debit balance in Cash Over and Short is reported as a

• A) contra asset.
• B) miscellaneous asset.
• C) miscellaneous expense.
• D) miscellaneous revenue.

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Definitions:

Goods Manufactured

The completed items that are ready for sale or use, produced by a manufacturing process during a specific accounting period.

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period, resulting in a net profit or loss.

Selling Expenses

Selling expenses are costs associated with the marketing and sale of products or services, including advertising, sales commissions, and retail space rental.

General And Administrative Expenses

Operating expenses not directly tied to production, including salaries of executives, office supplies, and utilities.