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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Definitions:

Measures of Reliability

Statistical tools used to assess the consistency and accuracy of data or measurement instruments over time.

Central Tendency

A statistical measure that identifies the central or typical value of a dataset, such as the mean, median, or mode.

Correlation Analyses

A statistical process used to evaluate the degree to which two variables are related or move together.

Paraphrase Method

The technique of expressing the meaning of something written or spoken using different words, especially to achieve greater clarity.