A debit balance of ?150,000 in a cash account shows that

FINANCIAL
POST UTME OAU

A debit balance of ?150,000 in a cash account shows that

  • A) cash has been overspent by ?150,000
  • B) there was ?150,000 cash in hand
  • C) the total of cash received was less than ?150,000
  • D) ?150,000 was the total of cash paid out

Correct Answer: B) there was ?150,000 cash in hand

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