For the Cash Account, the Category of Account and Its

question 15

Multiple Choice

For the Cash account, the category of account and its normal balance is:

• A)assets and a debit balance.
• B)liabilities and a credit balance.
• C)liabilities and a debit balance.
• D)assets and a credit balance.

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Definitions:

Regulatory Agency

A governmental body responsible for enforcing specific laws and regulations to protect public interest in areas such as health, safety, and the environment.

Antitrust Policy

Regulations and laws that prevent monopolistic business practices, promote fair competition, and protect consumers from abusive behaviors by large companies.

Global Competition

The dynamic and multifaceted competitive landscape among businesses operating on a worldwide scale.

Free Trade

Worldwide trading conducted without interference through tariffs, quotas, or restrictions, following its inherent course.