The Petty Cash Overage Was Not Recorded

question 38

Multiple Choice

The petty cash overage was not recorded. This would cause:

• A) Revenues to be overstated.
• B) Revenues to be understated.
• C) Expenses to be overstated.
• D) Accounts Receivable to be understated.

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Definitions:

Marketers

Professionals who are responsible for promoting and selling products or services, including market research and advertising strategies.

Benefit

An advantage or positive outcome that individuals or organizations gain from using a product, service, or participating in an activity.

Customer Retention

The activities and actions companies and organizations take to reduce the number of customer defections.