In the fiRst Month of Operations, the Total of the Debit

question 94

Multiple Choice

In the first month of operations, the total of the debit entries to the cash account amounted to $1,900 and the total of the credit entries to the cash account amounted to $1,500. The cash account has a

• A) $500 credit balance.
• B) $900 debit balance.
• C) $400 debit balance.
• D) $400 credit balance.

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Definitions:

Expected Return

The anticipated profit or loss from an investment over a given period, taking into account the probability of various outcomes.

Deferred Gain

A gain that is realized for accounting purposes but not yet recognized for tax purposes, or a gain that is spread over time by various accounting methods.

Expected Return

Expected return is the anticipated amount of profit or loss an investment generates, based on historical data or probabilistic estimates.

Pension Trustee

An individual or a corporate entity that holds and manages the assets of a pension fund on behalf of the participants.