An Income Statement Account Used to Record Cash Overages and Cash

question 113

Multiple Choice

An income statement account used to record cash overages and cash shortages arising from omitted petty cash receipts and from errors in making change is the:

• A)Cash Receivable account.
• B)Petty Cash account.
• C)Bank Reconciliation account.
• D)Cash Over and Short account.
• E)Cash Lost account.

---

Definitions:

Scope

The extent, range, or breadth of something, such as a project, study, or activity, outlining its limitations and parameters.

Methods

The techniques or procedures used to accomplish a specific task or to conduct research, experiments, or any systematic activity.

Evaluation

The systematic process of examining a program, concept, or object to judge its effectiveness, strengths, and weaknesses, often in comparison to standards or benchmarks.

Proposal Structure

The organization and layout of a proposal document, typically including sections such as introduction, methodology, and budget.