Asked by Trinity Honaker on Jul 05, 2024
Verified
The balance of cash shown by a firm on its books at any one time is the firm's ________.
A) Tax balance.
B) Market value of cash.
C) Speculative cash.
D) Ledger balance.
E) Available balance.
Ledger Balance
The total balance of funds in an account at the beginning of each day, including all deposits and withdrawals that were posted from the previous night.
- Pinpoint the rationale behind maintaining cash reserves and their role in business functions.
Verified Answer
NT
Nh?t Tr??ng Nguy?nJul 09, 2024
Final Answer :
D
Explanation :
The balance of cash shown by a firm on its books at any one time is referred to as the firm's ledger balance. This represents the amount recorded in the company's accounting records.
Learning Objectives
- Pinpoint the rationale behind maintaining cash reserves and their role in business functions.