For which of the following accounts would the limitation 'use of estimates and allocations' not be a concern?
A) Inventory
B) Cash
C) Equipment
D) Accounts Receivable

Question

Quizplus · Accepted Answer

The limitation 'use of estimates and allocations' would not be a concern for the Cash account as it is a current asset account that represents the amount of cash that a company has on hand or in its bank accounts. There are no estimates or allocations involved in recording cash transactions.

For Which of the Following Accounts Would the Limitation 'Use