The Cash Account Has a Credit Balance

question 213

Multiple Choice

The Cash account has a credit balance. Which statement is true?

• A) This is the normal balance for cash.
• B) An error has occurred and must be corrected before financial statements can be prepared.
• C) The account needs to be analyzed to determine the reason for the credit balance.
• D) Debit postings exceed the credit postings for the accounting period.

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