31. A credit balance in Cash Over and Short is reported as a(n) (Points : 3) asset.
liability.
miscellaneous expense.
miscellaneous revenue.
Question 32. 32. A petty cash fund of $100 is replenished when the fund contains $4 in cash and receipts for $94. The entry to replenish the fund would (Points : 3) credit Cash Over and Short for $2.
credit Miscellaneous Revenue for $2.
debit Cash Over and Short for $2.
debit Miscellaneous Expense for $2.

Question 33. 33. The size of the petty cash fund is dependent on (Points : 3) the wishes of the custodian of the fund.
anticipated disbursements for the year.
anticipated disbursements for a three- to four-week period.
the size of the regular cash account.

Question 34. 34. A note payable is in the form of (Points : 3) a contingency that is reasonably likely to occur.
a written promissory note.
an oral agreement.
a standing agreement.

Question 35. 35. If a corporation issued $3,000,000 in bonds which pay 10% annual interest, what is the annual net cash cost of this borrowing if the income tax rate is 30%? (Points : 3) $3,000,000
$90,000
$300,000
$210,000

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