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

question 3

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:

• A) is included in the bank reconciliation.
• B) appears on the balance sheet as liability.
• C) is closed to the profit or loss summary account.
• D) is deducted from the bank account balance in the ledger.

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Definitions:

Generalizations

Statements that apply broadly across various contexts, often extending findings from a specific study to larger populations.

Panel

A longitudinal study where data are collected from the same subjects at multiple points in time.

Cross-lagged

A statistical technique used to analyze the directional relationships between variables at different points in time.

Cohort

A group of individuals with a shared characteristic, usually studied over a period of time to observe changes and effects within the group.