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Home Q & A Board Other Fields Homework Help Business Accounting
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tivo tivo
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7 years ago
A company has a forty million dollar credit balance in the cash account. Given this information, which of the following is a TRUE statement?
A) This is NOT a normal account balance—companies don't normally have this much cash on hand.
B) It is NOT normal for the cash account to have a credit balance.
C) Not enough information provided, since normal account balances are different for each company.
D) It is ALWAYS normal for the cash account to have a credit balance.
Textbook 
Financial Accounting

Financial Accounting


Edition: 3rd
Authors:
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largerthanlifelargerthanlife
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tivo Author
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#2
7 years ago
I appreciate it once again, answered correctly
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