Cash Is A(n)________ Account and Has a Normal ________ Balance

question 162

Multiple Choice

Cash is a(n) ________ account and has a normal ________ balance.

• A)asset;debit
• B)liability;credit
• C)liability;debit
• D)asset;credit

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Definitions:

Journalized

Refers to the process of recording financial transactions in the chronological order of their occurrence in a company's journal, which is a primary accounting record.

Receipt of Cash

The act of receiving cash during transactions, indicating an influx of funds.

Unearned Revenue

Money received by a company for goods or services yet to be delivered or performed, representing a liability until the obligation is fulfilled.

Quarterly Journals

Quarterly journals are publications that come out four times a year, offering articles, research, and updates on specific field of interests.