Z-Mart Had $43 in Missing Petty Cash Receipts

question 73

Multiple Choice

Z-Mart had $43 in missing petty cash receipts. The correct procedure is to:

• A)Credit Cash Over and Short for $43.
• B)Credit Petty Cash for $43.
• C)Debit Petty Cash for $43.
• D)Credit Cash for $43.
• E)Debit Cash Over and Short for $43.

---

Definitions:

Big Banks

Large financial institutions that hold a significant portion of a country's total banking assets.

Moral Hazard

A situation in which one party engages in risky behavior knowing that it is protected against the consequences, often because another party bears the cost of those actions.

Deposits Insured

A guarantee by a government or private entity that deposits in banks and financial institutions will be protected up to a certain limit in case of bank failure.

Banker's Lobbying

The efforts made by banks and financial institutions to influence lawmakers and regulators in favor of policies beneficial to their interests.