A Fund for Petty Cash of $200 Has $17 Remaining

question 125

Multiple Choice

A fund for petty cash of $200 has $17 remaining in cash,$3 in miscellaneous cash receipts and additional $180 specific cash receipts.The debit to Cash short & over would be:

• A) $0.
• B) $17.
• C) $180.
• D) $183.

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Definitions:

Break-Even Point

The level of production or sales at which total costs equal total revenues, resulting in no net loss or gain.

Horizontal Axis

A graph's base line for plotting and reading values, typically representing time or categories.

Operating Leverage

Operating leverage refers to the degree to which a company can increase operating income by increasing sales, highlighting the impact of fixed versus variable costs.

Operating Income

The profit realized from a business's operational activities, calculated before interest and taxes.