Which of the Following Statements About the Tabular Summary and Account

question 50

Multiple Choice

Which of the following statements about the tabular summary and account form of the cash account is correct?

• A) All negative amounts in a tabular summary are cash payments and are recorded as debits under the account form.
• B) All positive amounts in the tabular summary are cash receipts and are recorded as credits under the account form.
• C) A positive cash balance in a tabular summary is reflected as a debit balance under the account form.
• D) Companies are required to use both a tabular summary and the account form.

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