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31 August, 17:32

Which statement concerning cash is true? a. Cash is increased by debiting. b. Cash will always have more debits than credits. c. Cash will never have a credit balance. d. All of these choices are correct.

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  1. 31 August, 19:23
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    The answer is A. Cash is increased by debiting

    Explanation:

    Like all assets, to debit means to increase while to credit means to decrease.

    There is no rule that states cash must always have more credits than debit or more debits than credits. Cash account can have more credits than debited and the balance will still be positive and vice-versa.

    Cash account can have a credit balance. If this happens that means the business is owing or in debt.
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Home » Business » Which statement concerning cash is true? a. Cash is increased by debiting. b. Cash will always have more debits than credits. c. Cash will never have a credit balance. d. All of these choices are correct.
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