An account linked with another account that has an opposite normal balance and that is subtracted from the balance of the related account is a(): ____
A: Accrued expense.
B: Contra account.
C: Accrued revenue.
D: Intangible asset.
A: Accrued expense.
B: Contra account.
C: Accrued revenue.
D: Intangible asset.
举一反三
- What type of account is Unearned Revenue (asset, liability, stockholders’ equity, revenue, or expense) and what is its normal balance, respectively?
- The increase of revenue should be ( ). A: debited to a revenue account B: debited to a expense account C: credited to a revenue account D: credited to a expense account
- Тhе Аllоwаncе fоr Асcоuntіng Rеceivable аccount іѕ а(n) ( ) A: expense account B: liability account C: owner' s equity account D: contra asset account
- The owner's withdrawal account normally has a credit balance since it is an equity account.
- The official settlements balance or balance of payments is the sum of the current account balance and the capital account balance.