What Account Is Used to Record the Amount of Cash

question 30

Multiple Choice

What account is used to record the amount of cash shortages or overages relative to a petty cash system?

• A)Petty Cash Payable
• B)Gain or Loss on Petty Cash
• C)Petty Cash Expense
• D)Cash Short and Over

---

Definitions:

Reverse Discrimination

Refers to the act of giving preferential treatment to members of previously disadvantaged or minority groups, which is perceived as discriminating against those in the majority.

Latino Employees

Workers who identify as Latino, emphasizing the diverse cultural, national, or ethnic backgrounds they may come from.

Affirmative Action

Policies and procedures designed to combat discrimination and promote diversity in hiring and admissions.

Employment Selection Procedures

The systematic processes used by organizations to identify, evaluate, and hire new employees.