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    Intermediate Accounting Study Set 6
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    Exam 18: Income Recognition and Measurement of Net Assets
  5. Question
    If the Consignment-In Account Has a Credit Balance, It Is
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If the Consignment-In Account Has a Credit Balance, It Is

Question 17

Question 17

Multiple Choice

If the consignment-in account has a credit balance, it is reported on the consignee's balance sheet as a(n)


A) contra-asset account
B) revenue account
C) liability account
D) equity account

Correct Answer:

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