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At the End of Fiscal Year, If the Cash Short

Question 30

Multiple Choice

At the end of fiscal year, if the cash short and over account has a credit balance, the amount is reported on the:


A) income statement under Bad Debts.
B) balance sheet under Owner's Equity.
C) income statement under Miscellaneous Income.
D) balance sheet under Current Liabilities.
E) income statement under Non-Operating Expenses.

Correct Answer:

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