The Account Which Records Differences Between Amounts of Cash Deposited

question 41

Multiple Choice

The account which records differences between amounts of cash deposited and amounts from the cash register tapes is called

• A)Petty Cash
• B)Cash Over and Short
• C)Cash Equivalents
• D)Discrepancy Expense

---

Definitions:

Expected Inflation Rate

The anticipated rate at which the general level of prices for goods and services will rise over a specific period.

Disinflation

A reduction in the rate of inflation, indicating a slowdown in the rate at which prices increase.

CPI

Consumer Price Index, a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care, used to assess inflation.

Base Year

A reference year against which economic growth or inflation is measured, often using indices in real GDP calculations or price levels.