Multiple Choice
An account linked with another account that has an opposite normal balance and is subtracted from the balance of the related account is a(n) :
A) Intangible asset.
B) Contra account.
C) Accrued revenue.
D) Accrued expense.
E) Adjunct account.
Correct Answer:
Verified
Correct Answer:
Verified
Q2: Prepaid expenses, depreciation, accrued expenses, unearned revenues,
Q3: If throughout an accounting period the fees
Q4: The adjusted trial balance must be prepared
Q5: Profit margin =_ divided by net sales.
Q6: A company records the fees for legal
Q8: On April 1, Santa Fe, Inc. paid
Q9: Prior to recording adjusting entries on December
Q10: Interim financial statements report a company's business
Q11: A company issued financial statements for
Q12: In its first year of operations, Grace