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    Financial Accounting IFRS Study Set 1
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    Exam 3: Adjusting the Accounts
  5. Question
    A Contra Account Found on the Statement of Financial Position
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A Contra Account Found on the Statement of Financial Position

Question 286

Question 286

True/False

A contra account found on the statement of financial position behaves contrary to accounting rules by being debited on the right and credited on the left.

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