Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 41 - No. 7)
If the total debits equal the total credits in the cash book, what does that imply?
The business has no cash in hand.
The business's cash position is balanced.
The business is making losses.
The business has an overdraft
Explanation
A balanced cash book suggests that the business has accounted for all its cash inflows and outflows.
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