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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Definitions:

Flattened

Describes objects that have been pressed into a thinner shape or planar surface, often as a result of external pressure.

Low Pressure

A condition in the atmosphere where the air pressure is lower than surrounding areas, often leading to cloudy weather and precipitation.

High Temperature

A condition or state of matter characterized by a heat level that is significantly above the normal or expected temperature range.

Metamorphic Conditions

The environmental conditions, including heat, pressure, and chemical processes, that transform the mineral composition and structure of a rock.