The Debit Balance in Cash Short and Over at the End

question 21

Multiple Choice

The debit balance in Cash Short and Over at the end of an accounting period is reported as

• A) an expense on the income statement
• B) income on the income statement
• C) an asset on the balance sheet
• D) a liability on the balance sheet

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Definitions:

Chosen People

A term traditionally used in a religious context to describe a group of people selected by a deity for a particular purpose; often associated with the Jewish people in the Hebrew Bible.

Moses

A key figure in the Abrahamic religions, traditionally credited with leading the Israelites out of Egypt and receiving the Ten Commandments from God.

Book of Revelation

The final book of the New Testament, also known as the Apocalypse, revealing a series of prophetic visions and the end times.

Nat Turner

An African-American slave who led a significant slave rebellion in Virginia in 1831, challenging the institution of slavery and its moral and economic foundations.