Which of the Following Statements About the Cash Account Are

question 173

Multiple Choice

Which of the following statements about the Cash account are true?

• A)Because most companies earn their fees in cash,the Cash account is categorized as revenue.
• B)For any given transaction,Accounts Receivable and Cash can be used interchangeably because both accounts are measured in terms of cash.
• C)The Cash account includes the value of any medium of exchange that a bank accepts for deposit.
• D)Cash is the same thing as Retained Earnings.
• E)Cash is a liability account.

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