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Author Question: A company has a $5,679 debit balance in its cash account. Given this information, which of the ... (Read 97 times)

shofmannx20

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A company has a $5,679 debit balance in its cash account. Given this information, which of the following is a TRUE statement?
◦ It is ALWAYS normal for the cash account to have a debit balance.
◦ It is NOT ever normal for the cash account to have a debit balance.
◦ It is not normal for a business to have this much cash, therefore this is NOT a normal account balance.
◦ Normal account balances differ from company to company; therefore it is impossible to evaluate the given statement without more information.


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Marked as best answer by shofmannx20 on Feb 18, 2020

joewallace

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shofmannx20

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Reply 2 on: Feb 18, 2020
YES! Correct, THANKS for helping me on my review


samiel-sayed

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Reply 3 on: Yesterday
:D TYSM

 

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