Multiple Choice
An account that is always deducted from a related account is known as a:
A) contra account.
B) temporary account.
C) carrying account.
D) negative account.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q36: The supplies inventory account of Forever Flowers
Q37: Which of the following statements relating to
Q38: The capital account of Benjie Maintenance, a
Q39: Accountants prefer to calculate profitability using the_
Q40: Which of the following items is the
Q42: On 1 May 2018, Dress in Style
Q43: The accrual approach to profit measurement is
Q44: The wages expense account for Ray's
Q45: Profit for a financial period is measured
Q46: On 1 November 2018 the publishers of