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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 fifty million dollar debit balance in its cash account. Given this information, which of the following is a TRUE statement?
A) It is not normal for a business to have this much cash, therefore this is NOT a normal account balance.
B) It is NOT ever normal for the cash account to have a debit balance.
C) Normal account balances differ from company to company; therefore it is impossible to evaluate the given statement without more information.
D) It is ALWAYS normal for the cash account to have a debit balance.
Textbook 
Financial Accounting

Financial Accounting


Edition: 3rd
Authors:
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antonio_johnantonio_john
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7 years ago
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Massachusetts Institute of Technology
-- Accounting

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tivo Author
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#2
7 years ago
Thank you for helping me with my accounting homework, will ask again
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