Explain What a Zero-Balance Account Is,how It Is Used,and How

question 31

Essay

Explain what a zero-balance account is,how it is used,and how it affects cash management.

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Definitions:

Disposal Costs

Expenses directly related to the removal or disposal of an asset, including environmental cleanup, dismantling, and legal fees.

Land Account

An account in the ledger that represents the cost of land owned by a business.

Parking Lot

An outdoor area or a structure designated for parking vehicles.

Title Fees

Fees associated with the transfer of ownership or establishing the title of a property, often incurred during buying or selling.