A junior accountant records an accounting entry incorrectly by crediting cash. What effect does this have on
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A junior accountant records an accounting entry incorrectly by crediting cash. What effect does this have on the cash balance? A)The cash balance is more than it should be because the erroneous credit increased the cash balance. B)There is no effect on the cash balance. C)The cash balance is less than it should be because the erroneous credit entry reduced cash. D)The cash balance is correct.
Related Book For
Foundations of Financial Management
ISBN: 978-1259024979
10th Canadian edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
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