The Cash Short and Over Ledger Account,which Records the Difference

question 23

Multiple Choice

The Cash Short and Over ledger account,which records the difference between the total of the cash register tape and the actual cash counted from the register,is:

• A)Closed to the Profit and Loss Summary account
• B)Included in the bank reconciliation
• C)Deducted from the Bank account balance in the ledger
• D)Appears on the Balance Sheet as liability

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Definitions:

Delphinium Nudicaule

A species of perennial flower in the buttercup family known for its vivid red-orange flowers, commonly referred to as the red larkspur.

Punctuated Equilibrium

Model of evolutionary change in a species which suggests that there are long periods of little or no change, followed by brief periods of rapid speciation.

Phyletic Gradualism

Phyletic gradualism is an evolutionary model suggesting that species evolve through a gradual change of populations over long periods of time.