A Cash Over and Short Account Is

question 24

Multiple Choice

A Cash Over and Short account is

• A)not generally accepted.
• B)debited when the petty cash fund proves out over.
• C)debited when the petty cash fund proves out short.
• D)a contra account to Cash.

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Definitions:

Recipient

An individual or organization that receives something from another entity, often within the context of transactions or awards.

Charitable Entity

An organization established for philanthropic rather than profit-making purposes, benefiting the public or a particular social cause.

Cash Contributions

Monetary gifts made by individuals or organizations to entities such as companies, nonprofits, or trusts, often for specific purposes or projects.

Donated Goods

Items given to an organization at no cost, often recognized in the recipient's financial records as income or an asset.