The Debit Balance in Cash Short and Over at the End

question 21

Multiple Choice

The debit balance in Cash Short and Over at the end of an accounting period is reported as

• A) an expense on the income statement
• B) income on the income statement
• C) an asset on the balance sheet
• D) a liability on the balance sheet

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Definitions:

Fresh Fruit Smoothies

Blended beverages made from fresh fruits, often combined with ice, yogurt, or milk, offering a healthy and refreshing option.

Distributorship

An arrangement in which a manufacturer or another supplier grants a business the right to sell its products.

Manufactured

The process of converting raw materials into finished goods through the use of equipment, labor, and processes.

Business Trust

A business organization governed by a group of trustees who operate the trust for beneficiaries.