Match the following terms with their correct definition.
-account used to record any discrepancies between the cash records and the actual amount of cash received

Question

Quizplus · Accepted Answer

B) Cash over and short is the account used to record discrepancies between the recorded amounts in the company's books and the actual amount of cash received. This account helps in tracking any overages or shortages in cash transactions.

Match the Following Terms with Their Correct Definition