Cash Short and Over is:
A) a Misc. Expense account.
B) a Misc. Revenue account.
C) a Misc. Expense or Misc. Revenue account depending on the balance in the account.
D) an asset or liability depending on the balance in the account.

Question

Quizplus · Accepted Answer

Cash Short and Over is an account that can be classified as either a miscellaneous expense or a miscellaneous revenue account, depending on whether there is a shortage (expense) or overage (revenue) in the cash account.

Cash Short and Over Is